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Inflation in South Africa edged upward in October, countering economist and analyst expectations of prices coming down for the month.

With inflation tracking higher, this dampens hopes that the country would make a speedier return to the South African Reserve Bank’s target range of 3% to 6%, and cements projections of a sizeable interest rate hike on Thursday (24 November).

According to Stats SA, headline consumer price inflation (CPI) was recorded at 7.6% in October 2022, up marginally from 7.5% in September.

Inflation shock for South Africa – and it’s bad news for meat lovers (