MARKET WRAP: JSE and rand weaker after higher US consumer inflation report

The JSE tracked weaker global markets on Tuesday, while the rand weakened along with its emerging market peers after US inflation came in higher than expected.

Data from the US Bureau of Labor Statistics showed the consumer price index (CPI) rose 0.3% in January and was up 3.1% on an annual basis, coming in higher than Bloomberg’s expectations of 0.2% month-on-month increase and a 2.9% annual increase…