Inflation jumped to a two-year high of 5.0% in June, driven primarily by transport costs tied to global energy prices following the Iran conflict. Core inflation also exceeded expectations at 4.1%, signaling broader price pressures beyond volatile food and energy categories.
South Africa's Inflation Hits 2-Year High, Cementing Rate Hike Expectations
Higher interest rates risk dampening consumer spending and household purchasing power amid elevated debt-service ratios, potentially impacting economic growth and employment.