PRETORIA (Reuters) - South Africa's central bank said on Tuesday inflation expectations were deteriorating, but that its monetary policy committee remained committed to bringing inflation within target range over a reasonable time horizon.

The targeted CPIX consumer inflation gauge has persisted above the top end of a 3-6 percent range since April 2007, and accelerated to a new five-year high of 10.1 percent year-on-year in March.

"The inflation outlook has deteriorated since the publication of the previous monetary policy review in November 2007," the central bank said in a bi-annual monetary policy review.

"The possibility of further electricity price increases appears the most significant and immediate upside risk," it said.