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Johannesburg - A recent development that has flamed inflation concerns is the dramatic weakening in the rand that will push up the price of imports, and if it persists at these levels, the Reserve Bank could be forced to lift rates at its December meeting.
This is the view of Efficient Group in a research note on Friday.
However, they add that higher prices due to rand weakness will only be able to take effect in the economy if the demand for these goods stays high.
"Consumer demand has dropped significantly this year and might act as a counter to the rand's inflationary expectations," they conclude.
- I-Net Bridge