Inflation surges to 7.4% - highest in 13 years.
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Statistics South Africa has published its latest consumer price index, showing that annual consumer price inflation has broken through the upper limit of the Reserve Bank’s target range for the second consecutive month.
Inflation was recorded at 7.4% in June 2022, up from 6.5% in May 2022. The June rate is the highest reading since May 2009 (8%) when the economy was facing the headwind of currency depreciation during the global financial crisis.
Inflation was recorded at 7.4% in June 2022, up from 6.5% in May 2022. The June rate is the highest reading since May 2009 (8%) when the economy was facing the headwind of currency depreciation during the global financial crisis.
