Safrica c.bank says CPIX unlikely in target before 2010
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Safrica c.bank says CPIX unlikely in target before 2010 UPDATED 02 Jun 2008 | 2:45  
Safrica c.bank says CPIX unlikely in target before 2010

JOHANNESBURG (Reuters) - South Africa's key CPIX consumer inflation gauge is unlikely to return to within a 3-6 percent target band before 2010, a senior central bank official said on Monday.

Latest official data showed CPIX accelerated to 10.4 percent year-on-year in April from 10.1 percent the previous month. It has persisted above the top end of the target range since April 2007.

"The main risk to the inflation outlook emanate from recent movements in food price pressures and the escalation in fuel and energy prices," Reserve Bank chief economist Monde Mnyande said in a speech posted on the bank's website on Monday.

"CPIX inflation is unlikely to return to within the inflation target range before 2010."

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