Interest rate hike on cards.(News)

From: Pretoria News (South Africa) | Date: August 31, 2006 | Copyright information

BYLINE: ETHEL HAZELHURST

Government is dealing South Africa's consumers a double whammy.

Figures released yesterday by Statistics SA show administered prices - prices which are set or influenced by government - jumped 9.8% in the 12 months to July. This is well ahead of the average inflation rate of 5% in July.

For a start, this price surge means householders have to dig deeper into their pockets to pay for petrol, schooling, electricity, water and assessment rates.

But that is only a start: there are also knock-on effects.

Administered prices represent more ...

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