While headline inflation rose to 3.6% in December, Sarb Governor Lesetja Kganyago noted that the 2025 average of 3.2% was close to their 3% objective. It pulled other metal prices, silver, platinum and so forth,” the governor said, adding that the adoption of the new inflation target had itself bolstered the currency. In pursuit of a ‘new normal’Kganyago highlighted that while goods inflation was performing well, the last mile of the inflation fight was proving more difficult. He emphasised that for low inflation to become South Africa’s “new normal”, it was essential for services inflation to move closer to the bank’s 3% target. He pointed out that households were burdened by mounting debt and a rising cost of living that outpaces income growth.