{"id":6102,"date":"2011-12-14T12:15:42","date_gmt":"2011-12-14T10:15:42","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/update-1-s-africa-nov-cpi-hits-20-mth-high-at-6-1-pct-yy\/"},"modified":"2011-12-14T12:15:42","modified_gmt":"2011-12-14T10:15:42","slug":"update-1-s-africa-nov-cpi-hits-20-mth-high-at-6-1-pct-yy","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-s-africa-nov-cpi-hits-20-mth-high-at-6-1-pct-yy\/","title":{"rendered":"UPDATE 1-S.Africa Nov CPI hits 20-mth high at 6.1 pct y\/y"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Headline inflation quickens within expectations<\/span><\/p>\n

<\/span><\/p>\n

* Inflation could peak higher that cbank’s forecast<\/p>\n

(Adds details, background)<\/p>\n

<\/span><\/p>\n

JOHANNESBURG<\/span> Dec 14 (Reuters) – South Africa’s
\ntargeted consumer inflation breached the central bank’s 3-6
\npercent target in November as expected, complicating the Reserve
\nBank’s strategy to keep it in check by raising rates when growth
\nis expected to be weak.<\/p>\n

<\/span><\/p>\n

November consumer inflation quickened to 6.1 percent
\nyear-on-year, from 6.0 percent in October, a level last seen in
\nJanuary 2010, Statistics South Africa said on Wednesday.<\/p>\n

<\/span><\/p>\n

Economists surveyed by Reuters had expected headline
\nyear-on-year inflation to accelerate to 6.2 percent and slow to
\n0.3 on a monthly basis.<\/p>\n

<\/span><\/p>\n

Stats S.A. said headline CPI slowed as expected to 0.3
\npercent on a month on month basis, from 0.5 percent in October.<\/p>\n

<\/span><\/p>\n

A weak rand was is driving prices higher and could push
\nprices above the central bank’s projected peak of 6.3 percent.<\/p>\n

<\/span><\/p>\n

“If the rand weakens then forecasts will rise across the
\nboard,” said Carmen Altenkirch, an economist at Nedbank, adding
\nthe Reserve Bank will not necessarily raise rates in response.<\/p>\n

<\/span><\/p>\n

“The Reserve Bank will continue having to juggle very weak
\ngrowth against rising inflation and as long as inflation is
\ndriven by external factors and there’s limited evidence of
\nsecond-round effects, they will probably keep interest rates low
\nfor longer. We’ve revised our interest rate rise to November
\nfrom July.”
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Headline inflation quickens within expectations * Inflation could peak higher that cbank’s forecast (Adds details, background) JOHANNESBURG Dec 14 (Reuters) – South Africa’s targeted consumer inflation breached the central bank’s 3-6 percent target in November as expected, complicating the Reserve Bank’s strategy to keep it in check by raising rates when growth is expected […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6102","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6102"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6102\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}