Consumers under siege from ‘self-inflicted wounds’
After relentless interest rate hikes, anyone with a R1m home loan and R200,000 car finance has to pay R5,000 a month more than in 2021
18 May 2023 - 05:03
While many countries are battling stagflationary conditions of high inflation coupled with low growth, global inflation has softened noticeably in recent months, thanks to lower food and oil prices.
In South Africa, however, inflation has remained worryingly persistent. Even as GDP growth slowed to a crawl, the Reserve Bank in March hiked its 2023 inflation forecast to an average of 6% for the year, as prices of food and goods keep rising. South Africa may now only hit the 4.5% midpoint of its inflation target in 2025. ..
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