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An economist has warned of further food price hikes in the coming months.
This, as consumer inflation remained steady at 6.6% year-on-year in June, well outside the Reserve Bank's inflation target of between three and six percent.
Statistics South Africa said yesterday that on the month, CPI came in slightly higher at 0.3% in June from 0.2 % the month before.
Wits University's Head of Economics, Jannie Rossouw, says consumers can expect further food price hikes in the coming months.
"I am concerned that there will still be upward pressure on food prices specifically and the CPI in general. We've seen that the Reserve Bank is also concerned about this. The Reserve Bank increased the repo rate last week as part of its programme of increasing interest rates to contain inflation," he said.
The Steel and Engineering Industries Federation of SA says "the June figure of 6.6 percent is high, and may fuel expectations of more to come.
Seifsa chief economist Henk Langenhoven said "this is the key problem facing the governor of the Reserve Bank, managing inflationary expectations with interest rate increases
without stunting domestic growth, all the while keeping an eye on what other central banks are doing."
