South Africa's Central Bank Governor warns of increased inflation risk due to oil price hikes and Middle East tensions.
South Africa's Central Bank Governor, Lesetja Kganyago, warns of upside risks to inflation due to higher oil prices amid Middle East tensions and potential global financial tightening. Headline inflation fell to 5.3% year-on-year in April, slightly below expectations. The South African Reserve Bank (SARB) now expects headline inflation to reach the midpoint of its target range (4.5%) only by the end of 2025, later than previously forecast.
April 21, 2024
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