The FINANCIAL — South Africa’s annual inflation rate rose in July as economists expected, as a weak currency and local tumult weighed on the economy, according to Nasdaq.
Annual inflation increased to a rate of 5.0% in July from 4.7% a month earlier. The increase was exacerbated by the South African rand, which is trading at a 14-year low as investors eye possible interest rate rises in the U.S. and amid global economic growth uncertainty.
