South African Inflation Climbs, Reducing Chance of Rate Cut

South African inflation quickened to a 10-month high in July, reducing the chance of another interest-rate cut when policymakers meet next month.

Consumer prices rose 3.5% from a year earlier, compared with 3% in the prior month, Pretoria-based Statistics South Africa said in a statement on its website on Wednesday. That matched the median estimate of 15 economists in a Bloomberg survey.