Stella Mapenzauswa
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/ 13 May 2008

SARB: Inflation outlook deteriorates

The South African Reserve Bank (SARB) said on Tuesday inflation was expected to rise, but that it remained committed to bringing the gauge within target range ”over a reasonable time horizon”. The targeted CPIX consumer inflation gauge has persisted above the top end of a 3% to 6% range since April 2007, and accelerated to a new five-year high of 10,1% year-on-year in March.