# South African Reserve Bank Governor Lesetja Kganyago warns that rising global energy and food prices could create additional inflationary pressures in South Africa, making it more difficult to bring consumer prices under control. Inflation is expected to average 4.4-percent this year, with the central bank projecting a gradual decline into its target range in 2027 before returning to its three-percent target in 2028. Kganyago has identified geopolitical tensions, increasing oil prices, higher fertiliser costs, and potential disruptions to grain supplies through the Black Sea as major threats to the inflation outlook.
SARB governor says rising global energy prices and food costs pose upside risks to inflation in South Africa