South Africa Inflation Quickens in September, Matching Forecasts
- Pace of inflation rises for second consecutive month
- Investors betting the central bank will raise rates next month
A customer shops in a supermarket in Cape Town, South Africa.
Photographer: Dwayne Senior/BloombergThis article is for subscribers only.
South Africa’s inflation rate rose to a three-month high in September on the back of higher food and energy prices, maintaining the case for the central bank to keep borrowing costs higher for longer.
Annual inflation accelerated to 5.4% from 4.8% in August, Pretoria-based Statistics South Africa said Wednesday in a statement on its website. That matched the median of 12 economists’ estimates in a Bloomberg survey.