As always, the ZAR will play a significant role in terms of inflation in the months ahead. While the ZAR has had a turbulent start to the year, ETM’s proprietary currency models still point to currency strength in the months ahead, primarily due to a weakening USD. ETM is of the view that we could see the USD-ZAR fall to low 16.00s in the months ahead, which would provide some much-welcomed relief for importers and consumers.

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