SOUTH African Reserve Bank Governor Tito Mboweni told parliament’s finance committee on Friday he expected inflation to continue to fall well into 2003. Mboweni said the benchmark CPIX measure of inflation had fallen to the high end of the bank’s three-to-six percent target for 2002 by August. ”CPIX is on a downward trend and it’s quite encouraging,” he said. He said the attacks in the United States and the US-led response, which could affect oil prices, was the major unpredictable element, adding: ”Our forecasts indicate that well into 2003 our CPIX will be coming down, though a lot will depend on these international developments.” – Reuters