,

South Africa Warned Against Economic Crisis


Economist and financial advisor Simon Mohapi says South Africa is no better than it was earlier this year, despite inflation numbers released by Statistics South Africa on Wednesday.

The numbers surprised many as the Consumer Price Index (CPI) was reduced from 6.2 % in April, to 6.1 % in May.

Mohapi says food inflation continues to rise and the structural make-up of the country’s economy is still in trouble as it operates above the inflation target of 3-6%.

ALSO READ  South Africa Economy Is In A Static Position: GIBS report

Mohapi says rising oil prices are also a big threat as they are likely to increase inflation and economic growth is set to decline as a result of this.

Watch more below:

 

sabc

Loading...

What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…