Wednesday, a report by Statistics South Africa said consumer prices rose 8.6% annually in February, at a faster pace compared to an 8.1% rise in the previous month. Economists had expected an increase of 8.3%.

In February, food and alcoholic beverages showed the biggest rise on an annual basis, increasing 15.8%.

Month-on-month, consumer prices were up 1.2% in February, faster than economists' expectations of a 0.7% rise and a 0.4% increase in January.

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