The South African Reserve Bank said on Tuesday inflation was expected to rise, but that it remained committed to bringing the gauge within target range "over a reasonable time horizon".
The targeted CPIX consumer inflation gauge has persisted above the top end of a 3% to 6% range since April 2007, and accelerated to a new five-year high of 10,1% year-on-year in March.
"The inflation outlook has deteriorated since the publication of the previous monetary policy review in November 2007," the central bank said in a twice-yearly monetary policy review.
13 May 2008
Reserve Bank: Inflations Going To Get Worse - Prepare For More Rate Hikes
SARB: Inflation outlook deteriorates
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Please check this link:
http://www.moneywebtax.co.za/moneywebtax/view/moneywebtax/en/page256?oid=5419&sn=Detail
The housing boom is now hurting existing home owners because of property rates which is linked to property prices. I am thinking of putting up a shack rather... :-)
Thanks for the link!
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