Although some research findings and the results are consistent with other studies from different countries that studied inflation indicators, there are few shortcomings/drawbacks. Albeit there is evidence that the stated objectives were successfully achieved and it is a potentially worthwhile contribution to inflation targeting as a monetary policy in South Africa, the first limitation centres on the credibility of the data, which, having been sourced from the SARB, may not be as credible as when it was obtained as primary data. The motive behind the use of the secondary data from SARB is that the data have been worked on and therefore will be appropriate for this study. The other limitation of the study pertains to the interpretation of results where, with only one test having been assessed (cointegration), generalization of findings will also be equally limited.
For further study, the most interesting part will be comparing how other African countries’ inflation indicators are performing compared to the performance of South African indicators. This will reflect how the South African economy is performing in relation to other countries that are also using the inflation targeting framework.
In conclusion, specific outcomes and recommendations that are both academic and practical value were clearly articulated. It further identifies specific areas of research with the potential to reinforce the outcomes.
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Data appendices