Inflation is breaking the poor – and interest rates could rise too

Inflation in September was once again higher than the official target range of 3% to 6%, making it very likely that the South African Reserve Bank will raise interest rates next month.

Statistics South Africa’s Consumer Price Index for last month puts headline inflation at 6.1%.

Food, housing and utilities remain the major culprits with the index for food and beverages at 11.6% higher than a year before.