No runaway inflation just yet, but repo rate likely to increase

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Inflation hasn’t run away from us yet, but the Statistics SA announcement on Wednesday that the inflation rate stayed unchanged at 5,9% in April compared to March will increase the repo rate, according to economists. Economic research group Oxford Economics Africa says although price pressures increased in recent months, high inflation has not been a major headache for South African policymakers when compared to advanced economies. The group expects inflation to average 5.9% this year compared to 4.5% in 2021. “Although headline inflation has stayed above the midpoint of the South African Reserve Bank’s (Sarb) inflation target band of 3%-6%…

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