South Africa’s inflation rate edges up in December, as expected | WKZO | Everything Kalamazoo

JOHANNESBURG, Jan 21 (Reuters) – South Africa’s headline consumer inflation quickened to ‍3.6% year on year in December from 3.5% in November, as predicted by analysts polled by ‌Reuters.

In month-on-month terms ‌inflation was at 0.2% in December, compared with -0.1% in November, statistics agency data showed ​on Wednesday.

The modest rise keeps the ‍headline rate within ​the 1 percentage ​point tolerance band of ‍the central bank’s 3% target.

At its last monetary policy meeting in November South Africa’s central ‍bank cut its main lending rate by 25 basis points ‍to ‍6.75%, arguing ​that a better inflation ​outlook ⁠gave it room ‌to ease policy.

The bank’s next policy announcement is scheduled for January 29.

(Reporting by Sfundo Parakozov;Editing by Alexander ⁠Winning)