South African inflation increased to 3.2% in January from 3.0% in December, remaining below forecasts but within the central bank’s target range. Core inflation was reported at 3.5%. The central bank has recently cut interest rates amidst uncertain global conditions.

In January, South African inflation experienced a slight increase, reaching 3.2% year on year, up from 3.0% in December. This change follows the first release after the statistical agency’s updated consumer price basket. The headline inflation remains within the South African Reserve Bank’s target range of 3% to 6%, although it is lower than the economists’ prediction of 3.3%.

In summary, South Africa’s inflation rose modestly in January but remains well within the central bank’s target range. Core inflation, which excludes volatile food and energy prices, aligns with analysts’ expectations at 3.5%. Furthermore, the central bank has implemented interest rate cuts amidst a complex global economic climate, emphasizing cautious monetary policy adjustments.

Original Source: www.zawya.com