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More bad news: Inflation isn’t slowing soon enough. Expect higher interest rates for longer

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Reserve Bank Governor Lesetja Kganyago. (SARB/Twitter/X)
Reserve Bank Governor Lesetja Kganyago. (SARB/Twitter/X)

Rising international food prices, lower local crop yields, higher fuel charges, as well as increased medical costs may conspire to push inflation higher in February, contrary to economist expectations at the end of last year.

This may force the central bank to keep interest rates at a 15-year-high for longer, with some economists already pushing back their rate-cut expectations to later in 2024.

READ| SA and its neighbours brace for El Niño's wrath on maize production

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