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2023 Inflation Expectations Rose To +6.5% Y/Y In Q2

SOUTH AFRICA

The Bureau for Economic Research writes that "in the second quarter of 2023, the average inflation expectations of analysts, business people and trade unions increased yet again."

  • 2023 forecast was revised up by 0.2pp to +6.5% Y/Y
  • 2024 forecast was revised up by 0.1pp to +5.9% Y/Y
  • 2025 forecast was revised up by 0.1pp to +5.6% Y/Y
  • The SARB wants to anchor inflation expectations at +4.5% Y/Y, the mid-point of the official +3%-6% Y/Y target range.

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