JOHANNESBURG, March 15 (Reuters) – South Africa’s
inflation rate should come back to within the 3-6 percent target
set by the central bank by the end of the year, Reserve Bank
Governor Gill Marcus said in a statement on Thursday.
“According to the macroeconomic forecast of the bank,
inflation is expected to peak at around 6.6 percent in the
second quarter of this year and then to decline moderately
before returning to within the target range by the end of the
year,” Marcus said.
The governor however said there were upside risks to that
outlook such as international oil prices.
Inflation stood at 6.3 percent in January and the bank has
previously forecast it would stay above the target range until
the first quarter of 2013.
(Reporting by Xola Potelwa; Editing by Susan Fenton)
© Thomson Reuters 2012 All rights reserved
