Kaya bizz talking to Siphamandla Mkhwananzi, fnb economist

kaya bizz with Gugu Mfuphi talking to Siphamandla Mkhwananzi, fnb economist about South Africa’s annual inflation rate rose more than forecast in August as food prices grew at the fastest pace in more than a year.Consumer prices grew 4.3% compared with 4% in July, the Pretoria-based Statistics South Africa said Wednesday in an emailed statement. The median estimate of 16 economists in a Bloomberg survey was 4.2%.Food inflation quickened to 3.8% in August, from 3% the previous month. That’s the highest rate since February 2019. The category for bread and cereals was one of the biggest drivers of this increase. The subindex for housing and utilities rose 5.3% driven by electricity prices.