South Africa's inflation rate decreased to 5.2% YoY in April, with food costs easing.
South Africa's inflation rate decreased for the second month in a row in April, reaching 5.2% year-over-year, with food costs easing. Consumer prices rose 0.7% compared to 0.8% in March. Despite the decline, it is unlikely to change the central bank's stance on keeping the benchmark interest rate at its current 15-year high of 8.25% until inflation slows down to the midpoint of its 3% to 6% target range.
May 22, 2024
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