Just In: South Africa’s inflation ticks higher

Annual consumer price inflation in South Africa picked up slightly to 4.8% in August from 4.7% in July – the first increase in four months, according to Stats SA. The South African Reserve Bank’s monetary policy committee prefers to anchor inflation expectations close to the 4.5% midpoint of its target range of 3%–6%. The fifth monetary policy announcement for the year is expected to take place tomorrow. The repo rate in South Africa currently stands at 8.25%.