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Stats SA: Shelf prices increase

According to Stats SA prices on shop shelves have increased by 6.6 between June 2013 & June 2014.

According to Stats SA prices on shop shelves have increased by 6.6 between June 2013 & June 2014.

JOHANNESBURG- Statistics South Africa says prices on the shop shelves have increased by 6.6 percent between June 2013 and June 2014.

The figure is unchanged from May's number and is slightly below what was expected.

Prices went up by 0.3 percent between May and June.

Last week, the South African Reserve Bank hiked interest rates by 25 basis points, saying it was worried inflation was above its target range of between 3 and 6 percent.

Today's figures show certain food items like bread and milk are pushing inflation up.

Economist Annabel Bishop says this is some good news for the consumer.

"We don't think inflation is going to climb any higher, we think it's going to fall back. And we believe today's outcome is reflective of the fact that we've seen food pricing pressures rise quite substantially from previous rand depreciation."

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