Inflation rose in South Africa last October
Official data showed, today, Wednesday, that headline consumer inflation in South Africa rose last October to reach 3.6% on an annual basis from 3.4% in September.
According to the “CNBC Africa” platform, economists expected inflation on an annual basis of 3.7% last October. The South African Reserve Bank will issue its next decision on monetary policy, tomorrow, Thursday, with average expectations indicating a reduction in the interest rate by 25 basis points.
At its previous meeting in September, the bank left the repo rate unchanged, saying: “It needs more time to measure the effects of previous easing steps.”
The South African Statistics Authority said on Wednesday that inflation on a monthly basis reached 0.1 percent last October, compared to 0.2 percent in September.
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