File photo by Delwyn Verasamy/M&G
Consumer spending is likely to be subdued on Black Friday as household finances remain under pressure from a generally high cost of living despite two interest rate cuts this year as well as lower food and fuel costs, economists say.
Although inflation has been trending down, consumers still have to contend with the high prices that have been built over the last year when the rate was going up, said Alec Abraham, a senior equity analyst at Sasfin…
