GIWUSA wants an interest rate cut, despite inflation accelerating to the highest level in 20 months [SOUND]

# General Industries Workers Union of South Africa is urging the South African Reserve Bank’s Monetary Policy Committee to cut the interest rate next week. This comes as the latest inflation figures from Statistics South Africa have come in at the upper limit of the one-percentage-point tolerance band of SARB’s new three-percent inflation target. GIWUSA president, Mametlwe Sebei, says fuel price shocks have pushed the energy component of inflation far higher, and therefore, price controls are needed: