But a fiscal consolidation plan should ease the pressure on the country's currency in the longer term.
The low oil price has eased headline inflation, but analysts warn that pressure remains and food prices are likely to keep rising this year.
Inflation figures are good, but uncertainty over the oil price raises a question about interest rates.
A range of crucial economic factors will have a bearing on the monetary policy committee’s decision to be announced on Thursday.
The IMF will update its global economic outlook this week, while investors look at a rates decision in Nigeria and inflation numbers in South Africa.
Inflation in Africa's second biggest economy has bust out of the Reserve Bank's target band again in May.
Zimbabwe needs to repair its relations with Western powerhouses in order to get it economic development back on track, says a report.
The SA Reserve Bank forecasts consumer inflation in the continent's number two economy will average 6.3% in 2014. Here's your economic week ahead.
The rand is down and inflation is up, but has not yet breached the Reserve Bank's upper target range.
SA will release last month's inflation figures, while economists keep tabs on Ukraine since Sunday's vote by Crimeans to join the Russian Federation.
ANALYSIS: A frail currency pushes up inflation and has no effect on productivity.
Ghana's central bank will meet two weeks earlier than planned, to decide how to respond to a weaker currency and inflationary pressures.
Derivatives used to speculate interest rates tumbled after South African inflation was found to be lower than expected.
Following the Central Bank of Nigeria's announcement of its rates decision, investors will turn their attention to SA's latest inflation figures.
South Africa needs to shield itself against capital outflows by boosting its foreign currency reserves, says Reserve Bank governor Gill Marcus.
The rally of the rand in recent days will likely continue to lose steam as the market looks out for a decision to cut monthly bond purchases.
The rand has slumped to a six-week low and bond yields soared to the highest in 16 months.
SA's latest inflation figures, manufacturing updates from China and housing data from the US are some of this week's big items on the data diary.
SA inflation figures, indicators of growth in Europe and China, US corporate earnings reports and elections in Japan will make for a busy week.