Mboweni says inflation to stay high
South African inflation will remain higher than expected despite changes to the consumer price basket, central bank Governor Tito Mboweni says.
South African inflation will remain higher than expected despite changes to the consumer price basket, central bank Governor Tito Mboweni said on Tuesday.
“Our simulations indicate inflation will still be higher than expected,” Mboweni said, referring to the impact of the re-weighting and rebasing of the consumer price index from 2009.
“It will only be in the target band sometime in 2010, the second quarter of 2010.”
Mboweni also said he remained concerned about global financial market instability after last week warning global developments would pose serious challenges over the next year.—Reuters
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