South Africa's consumer price inflation fell to 4.4% in August due to lower transportation and housing costs.

In August, South Africa's consumer price inflation fell to 4.4%, the lowest in over three years, down from 4.6% in July. This decrease is attributed to lower transportation and housing costs, with fuel prices declining for the third consecutive month. However, food inflation rose slightly to 4.7%. The reduction may prompt the South African Reserve Bank to cut interest rates, as it falls below the bank's target of 4.5%.

September 18, 2024
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