Higher Inflation Challenges South Africa's Economic Stability South Africa’s inflation rate edged up for the first time in three months this January, primarily driven by escalating fuel and food costs, marking a modest uptick to 5.3% year-over-year from December’s 5.1%. This increase, though slight, has inflation continuing to exceed the central bank’s preferred midpoint target of 4.5% for nearly three years, suggesting that the current key interest rate of 8.25%—a peak not seen in almost 15 years—may remain unchanged for some time. Central Bank Governor Lesetja Kganyago emphasizes the ongoing challenge of curbing inflation, indicating that rate cuts are off the table until inflation not only approaches but also consistently meets the 4.5% goal. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Inflation No Match for Casino Wins: U.S. Gaming Industry Sees Historic Highs in 2023 READ MORE Signs of an Impending 2024 Recession, Says Citi's Top Economist READ MORE Copper Prices Dip Amidst Dollar Strength and China's Real Estate Slump READ MORE Hoenig Cautions Against Expecting Three Rate Cuts Amid Economic Resilience READ MORE Gold Pares Gains From Record as US Factory Data Spurs Fed Debate READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment