CPIX Up Again - Expect Another Rate Hike

The Consumer Price Inflation Index is up again, further strengthening the chaces of another repo rate hike by the Reserve Bank

CPIX up 10.9 percent

SA’s consumer price index excluding mortgage rate changes (CPIX) for metro and other areas rose by 10.9% year-on-year in May, from the 10.4% year-on-year increase registered in April, according to Statistics South Africa.

CPIX was up 1.1% month-on-month after it increased 1.6% month-on-month in April.

This is the fourteenth month running that CPIX has been above the 6% upper target limit.