Central Banking

South African inflation hits record high

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SOUTH AFRICA - South Africa's targeted CPIX inflation measure vaulted to a record high in August, official data showed on Tuesday, supporting the Reserve Bank's decision last week to raise interest rates for the fourth time this year.

Statistics South Africa (Stats SA) said CPIX rose at an annual rate of 10.8% from 9.9% in July and exceeded market expectations of 10.5% growth.

The index, which strips out home loans and their tax effects, has now surged out of its official 3-6% target for 2002 for

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