Energy challenge is the biggest threat to economic performance
The rise in the annual consumer price inflation from 7,0% to 7,1% in March was contrary to market expectations, which had been that the consumer price index (CPI) might by now have shown a modest decline to about 6,7%.
According to Prof Raymond Parsons, economist from the North-West University (NWU) Business School, food prices are the main culprit. “The rate of inflation at 7,1% therefore remains well above the target range of 3% to 6% of the South African Reserve Bank (SARB).”