The driving forces of inflation in South Africa have spread beyond food and fuel to include costs of municipal rates and other services, South African Reserve Bank Governor Tito Mboweni said on Wednesday.
”Let’s not buy the story that inflation is due to just food and energy. Municipal rates are going up, education is going up, health is going up. There are a whole range of other factors,” Mboweni said in a presentation in Johannesburg.
He added that the country’s economy was facing difficulties and that ”things will get worse before they get better”. — Reuters