South Africa: Inflation slides to over eight-year low in October
Consumer prices came in flat over the previous month in October, following a 0.3% month-on-month rise in September. The reading reflected a fall in food prices and stable prices for housing and utilities, which offset higher transport costs.
Inflation declined to 3.7% in October from 4.1% in September, thus moving further below the midpoint of the South African Reserve Bank’s (SARB) target band of 3.0%–6.0%. October’s print was the lowest since February 2011. Meanwhile, core inflation remained stable at 4.0% in October. Lastly, annual average inflation inched down to 4.3% from 4.4% in September.