Consumer inflation hits 13-year high
Inflation accelerated further in July, driven mainly by rising fuel and food prices
24 August 2022 - 11:21
Consumer inflation accelerated to 7.8% in July, up from the already-high 7.4% in June, driven mainly by fuel and food prices to reach another 13-year high.
The consumer price index (CPI) reading, which remains outside the Reserve Bank’s target range of 3%-6%, is slightly higher than the Thomson Reuters consensus of 7.7% but in line with market predictions of 14 economists. ..
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