SA inflation rate rose to 6% in March

SA inflation rate rose to 6% in March
Published: 23 April 2014
South Africa's annual inflation touched the upper limit of the central bank's target range in March, data showed Wednesday, raising expectations that the bank will hike interest rates next month.

South Africa's national statistics agency said inflation rose to an annual rate of 6% in March, from 5.9% in February.

Economists expected the rate to hover at 5.9% in March.

The South African Reserve Bank raised interest rates for the first time in 18 months in January, and has said that it plans to continue to do so to fight inflationary pressures driven in part by weakness in the country's currency.

The South African rand has fallen 15% against the U.S. dollar in the past year.

The central bank will hold its next rate-setting meeting in May, and many economists expect the higher inflation rate will encourage the bank to raise its key rate from the current level of 5.5%.

- WSJ
Tags: Inflation,

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