Reserve Bank report shows inflation stabilising - SABC News

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Reserve Bank report shows inflation stabilising - SABC News
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South Africa’s inflation is expected to stabilise after peaking at 7.1% in March this year. Inflation is forecast to average 6% in 2023 and 4.9% in 2024.

A graphic showing the up and down movement of inflation figuresInflation is forecast to average 6% in 2023 and 4.9% in 2024.

The Reserve Bank Monetary Review Statement shows inflation risks remain firmly on the upside, and structural constraints continue to impact economic growth.Central banks across the world, including South Africa, increased interest rates in an effort to stem the increase in inflation. The report further shows economic growth has continued to decline because of power outages since the third quarter of last year. This, alongside under-performing rail and port infrastructure.

Lead economist at the Reserve Bank Witness Simbanegavi says, “We already this year at 108 days of load shedding, which is probably more than 60% of our load shedding last year and our expectation is that we are going to experience something like 250 days of load shedding this year.

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