Factory gate prices rose 7 percent last month, from 6.5 percent in the previous month, the statistics agency said yesterday. The median estimate of 14 economists in a survey was 6.8 percent.
Central bank governor
"[Yesterday's] numbers underline the fact that there is upward price pressure in the economy,"
The rand was bid at R10.7606 to the dollar at
The rand extended gains after
Fitch Ratings lowered the nation to BBB last year, with a stable outlook. The Budget "showed the government's fiscal consolidation plans are on track", Fitch said.
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