Inflation breaches SARB's target

South Africa's targeted CPIX inflation has breached the South African Reserve Bank's 3% to 6% inflation target for the first time since August 2003.

The latest inflation data shows that CPIX, which is the headline Consumer Price Index (CPI) excluding interest rates on mortgage bonds, inflation has risen to 6.3% in the year to April. The figures, released by the independent Statistics South Africa, also showed that CPI increased by an annual rate of 7%.

The rise was sharper than that predicted b