JOHANNESBURG – Public transport inflation increased from 7.6 percent year on year in July to 9 percent year on year in August. Many minibus taxi operators made annual adjustments to their fares during August.
The fare adjustment in August led to sporadic protest action.
This was slightly higher than economists’ median expectation of 4.2 percent year on year. Nonetheless, this was the eight consecutive month that inflation was near the 4.5 percent year on year level favoured by the South African Reserve Bank (Sarb).
The central bank’s Monetary Policy Committee (MPC) is busy with a bi-monthly meeting to consider inflation and other economic data in determining interest rates.