South Africa Inflation Reaches 5.5%, Highest in Almost Five Years
- Consumer prices rose 5.5% in November, producer costs up 9.6%
- Economic damage caused by omicron could alter rate-hike path
Photographer: Xabiso MkhabelaAnadolu Agency/Getty Images
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South Africa’s inflation rate jumped to the highest level in almost five years in November, underscoring the difficult choice the central bank faces in striking a balance between taming price growth and supporting an economy grappling with the fallout from a fourth wave of coronavirus infections.