South Africa’s (SA) headline consumer inflation accelerated faster than expected to 5.0% year on year in June from 4.5% in May, data from the statistics agency showed.
In month-on-month terms inflation was at 0.7% in June, the same rate as in May.
SA imports the majority of its fuel, making it sensitive to the surge in global energy costs since the war started in late February.
The SA Reserve Bank aims to keep inflation at 3% and is scheduled to announce an interest rate decision on Thursday.
–Reuters–
