Jul 05

Inflation “turned a corner”

South African Reserve Bank Governor Lesetja Kganyago says the fight to tame rising prices is delivering results, explaining that “inflation has turned the corner”. Bloomberg quotes the governor as saying that, while the bank will stick to its task, “inflation slowed to a 13-month low of 6.3% [in May] and is expected to revert to the Reserve Bank’s target range of 3% to 6% either in June or in the second or third quarter”.