South African rand higher on CPI release
The Consumers Price Index (CPI) measures the rate of price change of goods and services purchased by households. It measures changes in the average level of prices over a period of time. In other words, prices indicator of what is happening to prices, consumers are paying for items purchased. With a given starting point or base period which is usually taken as 100, the CPI can be used to compare current period consumer prices with those in the base period.
The USD/ZAR is currently trading at 9.1419, up 0.17% on the day.
Story provided by StockMarketWire.com