South Africa's inflation rose to 3% in December, driven by higher costs in housing, utilities, and food.

In December 2024, South Africa's consumer price inflation increased to 3%, up from 2.9% in November, driven by higher costs in housing, utilities, and food. Despite the rise, inflation remained below economists' expectations and the Reserve Bank's target of 4.5%. The average inflation for 2024 was 4.4%, a decrease from 6% in 2023. The central bank is expected to cut interest rates by 25 basis points on January 30.

2 months ago
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