JOHANNESBURG, Jan 21 (Reuters) – South Africa’s headline consumer inflation quickened to 3.6% year on year in December from 3.5% in November, as predicted by analysts polled by Reuters.
In month-on-month terms inflation was at 0.2% in December, compared with -0.1% in November, statistics agency data showed on Wednesday.
The modest rise keeps the headline rate within the 1 percentage point tolerance band of the central bank’s 3% target.
At its last monetary policy meeting in November South Africa’s central bank cut its main lending rate by 25 basis points to 6.75%, arguing that a better inflation outlook gave it room to ease policy.
The bank’s next policy announcement is scheduled for January 29.
(Reporting by Sfundo Parakozov;Editing by Alexander Winning)
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