Johannesburg — South Africa’s headline consumer inflation fell to 5.5% year on year in November from 5.9% in October (ZACPIY=ECI), statistics agency data showed on Wednesday.
Core inflation (ZACPYY=ECI), which excludes food and fuel prices, rose to 4.5% year-on-year in November from 4.4% in October, the statistics agency said.
November’s headline reading remains within the South African Reserve Bank’s inflation target range of 3% to 6%.
At the bank’s last policy meeting in November, Governor Lesetja Kganyago reiterated the bank’s expectation that inflation would stabilise around the mid-point of its target band by 2025.
*Bhargav Acharya, Tannur Anders, editing: Alexander Winning – Reuters
