Inflation & Prices
Inflation Expectations Climb Before S. Africa Rate Decision
- Inflation likely to average 6.1% in 2023, BER survey shows
- Central bank seen raising benchmark interest rate this month
Customers at a supermarket in Cape Town.
Photographer: Dwayne Senior/BloombergThis article is for subscribers only.
South African inflation expectations rose for the next two years, affirming predictions that the central bank will extend its most aggressive rate-hiking cycle in at least two decades.
Average inflation expectations for the year increased to 6.1% in the fourth quarter from 5.9% previously, according to a survey conducted by the Stellenbosch-based Bureau for Economic Research. The rate of price growth for 2024 is now seen climbing to 5.6% from 5.3%, according to participants in the poll of analysts, business people, labor unions and households conducted.