SARB Statement: 2026 CPI seen at 3.7% (prev. 3.3%), 2027 CPI seen at 3.3% (prev. 3.2%); 2026 GDP Growth seen at 1.4% (prev. 1.4%), 2027 GDP Growth 1.9% (prev. 1.9%)
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SARB Statement: 2026 CPI seen at 3.7% (prev. 3.3%), 2027 CPI seen at 3.3% (prev. 3.2%); 2026 GDP Growth seen at 1.4% (prev. 1.4%), 2027 GDP Growth 1.9% (prev. 1.9%)
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On the Newsquawk feed at , 20 minutes before this page.
- High energy prices will raise inflation in the near-term.
- We expect headline inflation will soon accelerate to around 4%, with fuel inflation over 18% for Q2.
Context
The SARB's statement indicates a notable upward revision in inflation forecasts for 2026 and 2027, suggesting growing inflationary pressures primarily due to high energy costs. This acceleration to around 4% inflation, particularly with fuel inflation expected to exceed 18% for Q2, could influence market expectations regarding monetary policy and interest rates moving forward.
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