Higher inflation in SA’s future - Freight News

Chris Hattingh

Rating agency Moody’s stated in a recent report that it expects inflation in South Africa to rise to 8% this year. The continued conflict in Ukraine, rising US interest rates (on 4 May the Fed raised interest rates by 50 basis points for the first time since 2000, and Fed Chair Powell said similar moves were likely for June and July), continued lockdowns in China and global supply chain stickiness, and the effects of massive government support and stimulus programs, are a few of the biggest causes of hotter and hotter inflation. South African consumers should brace for higher prices as a result over coming months.

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Chris Hattingh is deputy head of campaigns at the Institute of Race Relations.

https://www.freightnews.co.za/article/higher-inflation-sas-future