South Africa inflation drops to lowest in over four years
South Africa's headline consumer inflation fell more than expected in October, to 2.8% year on year from 3.8% in September , statistics agency data showed on Wednesday.
Big pay increases expected in South Africa
This will ensure that earnings beat inflation, meaning that South Africans should get richer. In Q4, 65% of respondents reported being able to pay their bills in full, which is a six-percentage point YoY increase. Gen Z and Millennials lead the trend at 68% and 66%, respectively.
South Africa Cuts Main Repo Rate to 7.75%
The South African Reserve Bank cut its main repo rate by 25 basis points to 7.75% as inflation continues to ease and said it continued to see a growth recovery taking hold.
South African inflation drops to lowest since June 2020
South Africa's annual inflation rate slowed sharply to 2.8% in October, data showed on Wednesday, setting the stage for another interest rate cut by the central bank this week. Statistics South Africa said falling fuel prices were the primary driver of the slowdown in the headline rate from 3.
South Africa records lowest consumer inflation rate since 2020
South African consumers have been under immense pressure over the past three years due to rising inflation. The annual inflation for food and non-alcoholic beverages dropped to 3.6 percent in October, the lowest since November 2019.
South Africa Inflation Rate Declines
The South African Reserve Bank is scheduled to meet on Thursday and could adjust interest rates. October inflation declined from 3.8 percent in the previous month, primarily because of falling fuel prices according to the national statistics agency. "Petrol and diesel prices declined by 5.3 percent between September and October," said Stats SA.
Inflation plunges more than expected in South Africa
Independent economist Elize Kruger said fuel and food price developments play a greater role in October, which is considered a low survey month. South Africa’s government-regulated petrol and diesel prices fell by more than R1/ l in October.
South Africa Inflation Eases To 2.8%, Lowest Since June 2020
South Africa's consumer price inflation eased further in October to the lowest level in more than four years amid cheaper
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Major pain for coffee and tea lovers in South Africa
Despite inflation coming down in October – the price of tea and coffee continues to climb, and the outlook is not rosy.
South African rand steady ahead of inflation, retail sales data
South Africa's rand was little changed early on Wednesday ahead of highly anticipated local inflation and retail sales data.
South Africa’s Cagey Central Bank to Cut Rates Sparingly in 2025
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