The SARB said headline inflation has peaked since the July 2022 high of 7.8%, but core inflation - which excludes prices of food, non-alcoholic beverages, fuel and energy - remained high. "Rising core inflation is expected to slow the pace of disinflation in headline inflation in the near term," the central bank said. South Africa's headline inflation stood at 7.1% year on year in March. (Reporting by Kopano Gumbi; Editing by Bhargav Acharya and Olivia Kumwenda-Mtambo)
JOHANNESBURG, April 25 (Reuters) - The South African
Reserve Bank (SARB) said on Tuesday that headline inflation had
peaked but core inflation remained elevated, putting upward
pressure on the consumer prices outlook.
The central bank in its April Monetary Policy Review said
rolling power cuts also continued to slow growth, reiterating
that they would shave off up to 2 percentage points from the
growth outlook in 2023, double the impact estimated in the
previous year.
South Africa has had just one day of uninterrupted power in
2023 as state power utility Eskom struggles to keep the lights
on in Africa's most industrialised economy.
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