S. African Inflation Beats Forecasts on Eve of Rate Decision

South African annual inflation accelerated less than expected on the eve of a widely expected interest-rate cut.

Consumer prices rose 3.6% in October, compared with 3.4% a month earlier, Pretoria-based Statistics South Africa said in a statement on its website on Wednesday. The median estimate of 14 economists in a Bloomberg survey was 3.7%. Core inflation, a measure of underlying price pressures, unexpectedly slowed to 3.1%. Prices climbed 0.1% in the month, against forecasts for a 0.2% rise.