South Africa inflation at 5% in June

South Africa’s headline inflation rose to 5.0% in June from 4.5%, the highest in roughly a year, driven largely by a sharp jump in transport costs and fuel prices, with transport inflation at about 12.7% and housing, utilities, and insurance also contributing to the rise. The hotter reading adds pressure on the central bank to tighten policy, with markets pricing potential further rate hikes at the upcoming decision.