Inflation Steady as Big Interest-Rate Hike Looms in South Africa
- Consumer prices rose 5.9% in April from a year earlier
- Economists predict 50 basis-point interest-rate hike Thursday
A shopper carries items from the refrigerated dairy shelf inside a supermarket in Johannesburg, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South Africa’s inflation rate held steady near the ceiling of the central bank’s target range on the eve of what’s expected to be the biggest interest-rate hike in more than six years.
Annual inflation was 5.9% in April, unchanged from the prior month, Statistics South Africa said Wednesday in a statement on its website. That matched the median of 13 economists’ estimates in a Bloomberg survey.