Economics
South African Inflation Quickens at Fastest Pace Since 2009
- Consumer prices increased 7.8% in July from a year earlier
- Traders still see aggressive interest-rate hikes this year
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South African inflation quickened for a third consecutive month amid mounting underlying price pressures.
The headline consumer-price index rose 7.8% from a year earlier, compared with 7.4% in June, Pretoria-based Statistics South Africa said Wednesday in a statement on its website. That matched the median of 14 economists’ estimates. It remains at a level last seen during the global financial crisis and is now the fastest inflation of Lesetja Kganyago’s tenure as central bank governor.