INVESTEC expects consumer inflation to average 4.5% in 2024, which is below the SA Reserve Bank’s forecast of 5%.
That should bring relief to consumers after several brutal years of high inflation and rising interest rates. The repo rate, which sets the tone for all other interest rates, shot from 3.5% in 2021 to its current level of 8.25%, and is expected to start falling in the coming months.
On a recent Investec Focus Radio SA podcast, Investec chief economist Annabel Bishop looked at when inflation and interest rates will come down, and what consumers can expect when it comes to taxes, salaries and food and fuel costs.- moneyweb.co.za