Consumer inflation increased to 3.3% in October 2020, beating market expectations of 3.0%

26 November 2020 | Economy | General | Alexander Forbes Investments

Highlights

• Annual headline CPI increased to 3.3% year on year in October 2020 from 3.0% year on year in September 2020, higher than Bloomberg consensus expectations of 3.0%
• Core inflation increased slightly to 3.4% year on year in October 2020 from 3.3% year-on-year in the previous month on the back of further easing in lockdown measures.
• In our view, the inflation rate will remain well below the SARB’s 4.5% midpoint in 2020 and we do not expect any monetary policy changes in the medium term.

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Consumer inflation increased to 3.3% in October 2020, beating market expectations of 3.0%

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