South African Reserve Bank raises interest rate to 7%, warning that oil shocks, food inflation and global instability could drive prices higher

This is what makes youth unemployment especially dangerous. A country in which nearly half of young work-seekers cannot find employment is not merely experiencing a cyclical…

Sub-Saharan Africa’s reliance on imported oil leaves countries exposed to economic shocks amid the escalating Middle East conflict. Rising crude and LNG prices threaten import…

From 7 January, 93-grade unleaded petrol will decrease by 62 cents a litre while 95-grade petrol will cost 66 cents less

The country has a collapsing currency and public sector, widespread hunger and corruption linked to the police, military and presidency

South Africa’s food inflation rose to 4.4% in May but this is expected to be temporary

The announcement comes as the bank foresees lower global interest rates and a weaker outlook for the local economy

Despite the global environment becoming less tense since the March meeting, the central bank will remain cautious, economists say

The central bank has maintained price stability but needs to focus on growth given the high unemployment rate.

The South African Reserve Bank is unlikely to cut interest rates next month, because of inflationary pressures that lie ahead

American consumers and workers will feel the pain induced by the tariffs imposed on countries around the world

For an agricultural sector that depends on international markets, short-term protectionist measures offer little benefit and erode long-term competitiveness

The monetary policy committee said it remains vigilant amid risks to inflation outlook on the global and domestic front

With inflationary pressures heightened, the Reserve Bank might take a cautionary approach regarding its interest rate decision on Thursday

The South African Reserve Bank has warned of an upside risk to the inflation outlook

Tax bracket over-inflation has led to income inequality and less money for essential services

This was despite the central bank highlighting upside risks to the inflation outlook

Consumers should spend cautiously, despite the positive outlook for the year

Data from Statistics South Africa showed that the CPI annual rate braked to 2.8% – a four-year low

This is the lowest reading for inflation in South Africa since April 2021