The Daily Maverick’s Neesa Moodley, penned an article on the SA Reserve Bank’s actions to mitigate domestic inflation.
Reserve Bank governor Lesetja Kganyago says the Russia-Ukraine war is likely to reduce global economic growth and contribute to higher inflation. He anticipates that the war will probably impair production of a wide range of energy, food and other commodities, and further disrupt global trade. In line with this, local food price inflation has been revised upwards to 6.1% in 2022 from 4.8% previously, largely on the back of higher global food prices. “While food prices will stay high, fuel price inflation should ease in 2023, helping headline inflation to fall to 4.6%, despite rising core inflation,”
If you would like to read the fill article follow this link: ‘A hawkish SA Reserve Bank continues its tightening cycle and raises rates again’ – Daily Maverick