SOUTH Africa’s inflation rate climbed to a four-month high, likely cementing the central bank’s resolve to keep borrowing costs on hold when it meets next week.
The consumer price index rose to 5.6% in February from a year earlier, compared with 5.3% the prior month, Pretoria-based Statistics South Africa said Wednesday in a statement on its website. The median of 17 economists’ estimates in a Bloomberg survey was 5.5%.
The median of 17 economists’ estimates in a Bloomberg survey was 5.5%. Yields on government bonds pared an earlier drop. They fell as much as 13 basis points before the data was released. They traded 3 basis points lower from closing levels at 12.08% – Bloomberg