Spike in prices may tilt Reserve Bank towards faster interest rate tightening

Consumer inflation reached 7.4% in June from 6.5% in May, worse than market expectations

Inflation came in worse than expected in June, raising fears that higher fuel and food prices might now feed into more generalised price pressures across the economy, further pressing the Reserve Bank to up the pace of interest rate hikes.

Official figures showed consumer price inflation reached a 13-year high of 7.4% in June, well above May’s 6.5% and ahead of the 7.2% market consensus and the 7.3% forecast by Bloomberg...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BDliveSA /  🏆 12. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gauteng metros face spike in land invasions, housing scamsGauteng metros are facing a resurgence of land invasions and social scammers who sell government flats and RDP homes for as little as R15,000.
Read more »

South Africans Fear Rising Crime As Food Costs SpikeThe inflation diaries: As price rises outstrip salaries, residents worry about sending money to families back home, and avoiding rising violence on the streets
Read more »

Oil eases from sharp spike backed by softer dollarUnderlying supply/demand imbalance remains tight
Read more »

Expect aggressive rate hike for South Africa this weekSouth Africa’s real interest rate is at the lowest level in almost a quarter century, adding to the case for continued aggressive monetary-policy tightening by the central bank on Thursday.
Read more »

Another interest rate hike expectedHigher wage demands will support the case for the Reserve Bank to hike interest rates again this week.
Read more »

Canada’s inflation reaches 39-year highThe North American country’s central bank will continue pushing aggressive interest rate hikes to curb surging consumer price inflation
Read more »