SOUTH Africa’s inflation rate dropped to the lowest level in three years, supporting the case for monetary policy easing this quarter.
Consumer prices rose 4.6% in July from a year earlier, compared with 5.1% in June, Statistics South Africa said in a statement on its website on Wednesday.
That’s the lowest level since July 2021 and was below the 4.8% median of 16 economists’ estimates in a Bloomberg survey. – moneyweb.co.za