LISTEN | Interest rates hike expected on Thursday, fuel prices likely to rise next week

Waldo Swiegers/Bloomberg

South Africans will have to endure a little longer. Economists predict an increase in interest rates, while the Central Energy Fund expects fuel prices — except diesel — to rise.Chief economist at Investec Annabel Bishop predicts a 50 basis points interest rate increase on Thursday because of high inflation.

Inflation was recorded at 7.2% in December, down 0.2% from November. The inflation rate is still above the South African Reserve Bank’s target range of 3% to 6%.CEF data suggested prices of 93 and 95-octane petrol will rise by 25c/on February 1. The price of illuminating paraffin is expected to rise by 8c/

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