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Thursday, August 21, 2008

South Africa To Target Headline Inflation In Future

South Africa will switch to targeting headline inflation next year instead of CPIX, which measures consumer prices excluding mortgage interest costs. "We will be targeting CPI from next year" Lesetja Kganyago, the director general of the National Treasury is quoted as saying. Statistics South Africa will stop publishing the CPIX data from January. The Treasury will say whether it will make any changes to the 3 percent to 6 percent target range at the mid-term budget meeting in October, or at the main budget meeting in February, according to Kganyago "We believe the 3 percent to 6 percent range seems still to be a range that is consistent with our growth objectives".

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