Headline consumer inflation fell to 4.7% year on year in July from 5.4% in June.
South Africa’s headline consumer inflation fell more than expected to 4.7% year on year in July from 5.4% in June, Statistics South Africa data showed on Wednesday. Read: High inflation taking its toll on food producers On a month-on-month basis, consumer inflation was at 0.9% in July, compared to 0.2% the previous month. Analysts polled by Reuters had predicted year-on-year inflation would come in at 5.0%, and month-on-month at 1.1%.
Read: Inflation slows back within Sarb target Inflation fell within the central bank’s target range of 3%-6% in June for the first time since April 2022, after which the South African Reserve Bank paused its interest rate hikes at its July monetary policy meeting. Read: The real impact of food inflation The bank’s monetary policy committee will meet again in September. The committee said last month that it did not discuss rate cuts in July.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South African inflation falls to 4.7% y/y in JulySouth Africa's headline consumer inflation fell more than expected to 4.7% year on year in July from 5.4% in June, Statistics South Africa data showed on Wednesday.
Read more »
Wayde and the Botswana 400m gang headline Tuesday action at Budapest World Athletics ChampsIn tonight’s 400m semifinals at the National Athletics Centre, the South African duo of Wayde van Niekerk will carry Africa's hopes alongside Botswana's Leungo Scotch, Collen Kebinatshipi and Bayapo Ndori.
Read more »
Africa Live this week: 31 July-6 August 2023Updates from across the African continent.
Read more »
Sales of used cars grew 8% in July as average prices dropCar shoppers paid less on average for a used car in July. Read more about it here.
Read more »
Rand continues to buckle under pressure, oil prices riseEconomists foresee that the inflation rate for the month of July could slightly increase to about 5.5% up from 5.4% in June.
Read more »
Africa's infrastructure challenges also an investment opportunityTrade and Industry Minister Ebrahim Patel addressed delegates at the BRICS manufacturing forum in Sandton on Monday, on the eve of the bloc’s headline 15th summit.
Read more »