Nedbank’s CPI forecast darkens as it expects percentage point rates hike
Bank revises average inflation projection upwards, from 4.9% to 6.5% amid increases in food and petrol prices
28 June 2022 - 20:51
SA’s fourth-largest bank, Nedbank, has painted a bleak picture of what is to come in the local economy after revising its forecast for consumer inflation and interest rates for the rest of the year.
SA’s consumer price index (CPI) rose to 6.5% in May, breaching the Reserve Bank’s upper limit of 6% amid relentless increases in food and petrol prices. This is the highest the rate has been since January 2017, when it hit 6.6%...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.