Economics
South Africa Inflation Rate Falls Below Target Midpoint in April
- Annual inflation rate declines to 4.4%; estimate was for 4.5%
- Increase in gasoline prices drove advance in overall index
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South Africa’s annual inflation slowed for the first time in three months, with the rate falling below the midpoint of the central bank’s target range, after moderation in food-price growth tempered an increase in the cost of gasoline.
Annual consumer-price growth decelerated to 4.4% from a year earlier compared with 4.5% in March, the Pretoria-based Statistics South Africa said Wednesday in a statement on its website. The median estimate of 22 economists in a Bloomberg survey was 4.5%.