Consumer inflation is up, but steeper rate cuts loom amid virus fallout
This might bring relief to consumers and businesses, but it is unlikely to turn economic activity around
Inflation ticked up slightly in February to reach its highest level in over a year, data from Stats SA showed on Wednesday.
The figures come as SA awaits Thursday’s monetary policy decision from the SA Reserve Bank, and the economy is firmly in the grip of efforts to contain the spread of coronavirus.
Annual consumer price inflation rose to 4.6% in February, up from January’s 4.5%, according to the agency. The increase was only marginally higher than market expectations, which had inflation staying steady at 4.5% – the midpoint of the Reserve Bank’s target range of between 3% and 6%...