South African Inflation Accelerates to Breach 6% Target
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South Africa’s inflation rate accelerated to 6.1 percent in April, exceeding the central bank’s maximum 6 percent target and bolstering the case for higher interest rates.
Inflation quickened from 6 percent in March, the Pretoria-based statistics office said. The median estimate of 30 economists surveyed by Bloomberg was for inflation to be unchanged. Prices rose 0.5 percent in the month.