Briefs
SA inflation drops to near 9-year low, opening door for rate cut
SA’s annual inflation rate dipped more than forecast to the lowest in almost nine years in October, providing some room for the central bank to ease policy.
By Prinesha Naidoo
(Bloomberg) – South Africa's annual inflation rate dropped more than forecast to the lowest in almost nine years in October, providing some room for the central bank to ease policy.
Consumer-price growth slowed to 3.7% compared with 4.1% in September, Pretoria-based Statistics South Africa said on Wednesday in a statement on its website. The rand eased.
The latest print marks 31 consecutive months in which inflation has remained within the central bank's target band of 3% to 6%. The median estimate of 14 economists in a Bloomberg survey was 3.9%.