South Africa’s consumer price index inflation remains far above the South African Reserve Bank’s target, despite the most recent interest rate increase since the current cycle of hikes began in November 2021. The interest rate has risen by 375 basis points over this 15-month period.
Furthermore, while commodity and freight costs may be falling, they have yet to trickle down to consumers. This means that South Africans continue to face high food prices as the country’s major
