Inflation accelerates in February
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Staff Writer - . Mar 24, 2023
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Annual inflation in South Africa in February was 7%: slightly higher than the 6.9% recorded in January.
On a month-to-month basis inflation was 0.7%, higher than the negative 0.1% in the first month of the year.
The South African Reserve Bank’s target range for inflation is between 3% and 6%, meaning that it is likely that rates will be raised once more when the bank meets again.
Economists said that higher inflation could partly be attributed to the ongoing power crisis in the country.
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