SA’s largest asset manager Investec says SA is likely to see average inflation of 4.5% in 2020, with price pressure consistently moderating since 2016.
SA has seen two years of materially declining consumer price inflation , with 2019 now proving to be a third. Investec has lowered its forecast for inflation in 2020 to 4.5%, from 5% at the start of the third quarter of 2019. Subdued consumer demand is contributing to lower food price inflation, said Bishop, although SA is a drought-prone country, which means long-term volatility in inflation is likely.
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