SA Reserve Bank governor Lesetja Kganyago drew a dire picture of the SA economy on Wednesday, saying even as positive global developments — such as the reduction in global delivery lags and supply bottlenecks — contribute favourably to the inflation dynamics of some countries, they will not have a material impact on domestic inflation.

“In fact, it is expected that our own domestic infrastructural bottlenecks will continue to exert upside pressure on the inflation outlook,” Kganyago said. “There is [also] recognition and growing evidence that the country’s ongoing energy supply challenges are impacting on prices as well.”..

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