South Africa’s inflation rises sharply on food and fuel prices

Inflation in South Africa rose sharply in September but stayed within the central bank’s target range, fuelling analysts’ expectations that interest rates would be left unchanged next month. Headline consumer inflation rose to 5.4% year-on-year in September from 4.8% in August, with food, fuel and transport sectors being the biggest contributors. The South African Reserve Bank targets inflation between 3% and 6% and prefers to see it around the midpoint of that range. The central bank kept rates on hold in its previous two policy meetings after 10 consecutive hikes to curb inflation.

Source : CGTN Africa