South Africa: Inflation slides to over eight-year low in November
December 11, 2019
Consumer prices rose 0.1% in November, after coming in flat a month prior. The reading reflected slightly higher prices for services and semi-durable goods.
Inflation edged down to 3.6% in November from 3.7% in October, thus moving further below the midpoint of the South African Reserve Bank’s (SARB) target band of 3.0%–6.0%. November’s print was the lowest since February 2011. Meanwhile, core inflation inched down to 3.9% in November (October: 4.0%). Lastly, annual average inflation edged down to 4.2% from 4.3% in October.
Author: Nicolás J. Aguilar, Economist