South African inflation remains well above target

Inflation in South Africa remained well above the central bank's target for inflation in June. It was the third consecutive month that inflation, as measured by the central bank's target measure CPIX index, breached the South African Reserve Bank's (SARB) target.

Statistics South Africa, the country's independent statistical agency, announced on 25 July that the June figure remained unchanged from May at 6.4% year-on-year.

This was contrary to expectations that saw inflation start to recede an