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Consumer prices fall more than expected but the Reserve Bank is almost certain to raise the cost of money on Thursday
24 May 2023 – 12:37 Monique Vanek
SA’s inflation rate fell more than predicted to an 11-month low, a drop that’s unlikely to sway the central bank from delivering a back-to-back 50 basis-point (bps) interest rate hike on Thursday. The rand pared earlier losses.
Consumer prices rose an annual 6.8% in April from 7.1% the previous month, Stats SA said in a statement on Wednesday, lower than the median estimate of 7% from 17 economists surveyed by Bloomberg…
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