S.African official inflation is above target at 6.1%

Inflation reached 6.1 percent in April, exceeding the central bank’s target band of 6.0 percent, the national statistics agency said on Wednesday.

On a monthly basis, consumer prices rose by 0.4 percent in April from the level in March, thanks to stable food prices which stayed unchanged.

In march year-on-year inflation reached 6 percent, but the four previous months had exceeded the six percent target.

The central bank predicts inflation to peak in the first quarter of 2012 before returning to the 3-6 percent target and stabilising at around 5.5 percent at the end of 2013.