In a previous column (FW, 22 July 2022), Absa AgriBusiness reported on the high global inflation rates that have been apparent since mid-2021.
Released in the fourth week of August, local inflation figures for July reached levels last seen during the 2016/17 drought in South Africa.
As explained in Absa’s earlier coverage of this topic, while inflation is the single most important determinant of the interest rate decisions made by
