CLAIRE BISSEKER: Inflation surf is up, but don’t bet on a smooth wave to ride

There are two big worries for the SA economy: that inflation continues to overshoot, and that commodity prices tumble. As the global economy takes a turn for the worse both fears are being realised, with troubling implications for SA’s growth and fiscal outlook.

Last week SA’s May consumer price index came in at 6.5%, against consensus expectations of 6.1% — a large overshoot. It wasn’t entirely unexpected though, given that inflation also overshot in the US and Europe in May...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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