Inflation leaves Corridor - 17th Jan 2012

The inflation rate in South Africa was last reported at 6.1 percent and has thus left the corridor set by the Minister of Finance as to be between 3% and 6%.

On the back of a weak Rand it is further to be expected that the final quarter of 2011/2012 will see an inflation rate as high as 6.3%

From 1981 until 2010, the average inflation rate in South Africa was 10.00 percent reaching an historical high of 20.80 percent in January of 1986 and a record low of 0.10 percent in January of 2004.

Today the Monetary Committee of the Reserve Bank has reconvened for the first time in 2012 in order to discuss counter-measures as well as a possible chanhge of the Repo rate, which will then translate in a change of the prime lending rate.