Posted June 4, 2023 by Comments

BNP on Friday said South Africa’s headline inflation rate could soar up to 6 percent this year, as the intensity of Russian sanctions continue to exert upward pressure on the global economy.

Inflation has been below 6 percent since 2016, when it was driven by a severe drought induced by one of the strongest El Niño events on record, which reduced crop production by nearly 50 percent. READ MORE

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