South African Inflation Slows Back Within Central Bank Target
- Consumer prices increased 5.4% in June from a year earlier
- Economists forecast another 25 basis-point rate hike this week
A supermarket in Pretoria, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South Africa’s inflation rate fell below the central bank’s target ceiling for the first time in 14 months, on lower food costs.
Consumer prices rose an annual 5.4% in June from 6.3% the previous month, Pretoria-based Statistics South Africa said Wednesday in a statement on its website. The median estimate of 22 economists in a Bloomberg survey was 5.5%.