File: Inflation. Pixabay/geralt
JOHANNESBURG - Consumer inflation has risen to a 14-month high, increasing to 4.4-percent in April.
But analysts say this was largely expected, as the figures are calculated in comparison to last year’s inflation, which was significantly lower.
Higher inflation supports the case for the South African Reserve Bank to hike rates.
But the bank doesn't see inflation rising out of the current 3.6-percent target in the coming months.
Analysts say Wednesday’s figures show that food, fuel, and electricity prices are increasingly suffocating consumers.