October’s inflation surges, interest rates to be hiked?

Nov 21st, 2018 Sandisiwe Ntlemeza 1522 Views

JOHANNESBURG: South African households might be set for more financial pain with a hike in interest rates more likely after October’s inflation rate increased by 5.1 percent from 4.9 percent – the highest inflation rate since July.

Statistics South Africa said the spike in inflation in the month was mainly driven by the cost of transport.

The South African Reserve Bank is likely to take a deem view on the headline inflation print, with it getting into the upper end of its 3-6 percent target range.