(MENAFN) Official figures showed that South Africa's annual inflation rate accelerated by 0.5 percent to 4.5 percent in April, as the effect of low oil prices started to fade, AFP reported.
Inflation in Africa's most advanced economy reached its trough in February when it hit a four-year low of 3.9 percent on the back of low oil prices, data released by Nedbank showed.
Meanwhile, the South African central bank unveils its quarterly interest rate decision, but analysts predict rates will be kept on hold given weak domestic economic growth.
"The increase will be mainly on the back of a weaker rand-dollar exchange rate as well as higher oil prices," Nedbank said in a statement, one of South Africa's largest lenders.
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