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CPI slows down as retailers are wary of spooking customers

This was a positive inflation surprise, says economist.

Consumer price inflation in April rose by 4.4%, on a year-on-year basis. That’s at a slower pace than the 4.5% recorded in the month of March. However, pressures continue to rage from the fuel price index, which was up 7.6%. Stats SA shows that this hike in the index is the biggest jump since the fuel index rose by 14.3% in April 2015. The overall CPI has been within the Reserve Bank’s target band of 3% to 6% for the past two years.  Will this remain the case and with the central bank set to pronounce on interest rates tomorrow, what influence might this latest print have, if any? Sanisha Packirisamy, an economist at Momentum Investments, discusses the latest figures with Nompu Siziba.

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