South Africa's inflation drops to 2.8%, lowest since 2020, driven by falling fuel prices.

South Africa's inflation rate fell to 2.8% in October, the lowest since June 2020, due to a significant drop in fuel prices. The price of fuel decreased by 5.3% month-over-month, lowering the overall transport costs and reducing food inflation to its lowest since November 2019. This trend may lead to a further cut in the repo rate by the South African Reserve Bank.

November 20, 2024
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