South African Inflation Accelerates to 4.0 Percent in April
South Africa's annual consumer inflation rose to 4.0% in April, exceeding economist expectations of 3.9% due to rising global energy costs. The jump from March's 3.1% reading increases pressure on the central bank to consider a rate hike at its upcoming meeting on May 28.
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South Africa headline consumer inflation rose to 4.0% in April, exceeding economist expectations of 3.9%. The reading is 0.9 percentage points higher than the 3.1% rate recorded in March. Accelerating prices increase the likelihood of an interest rate hike at the central bank's meeting on May 28.
