South Africa’s main consumer inflation number slowed in April to 4.4% from 4.5% in March, Statistics South Africa said on Wednesday, the day before the South African Reserve Bank unveils its decision on interest rates at the conclusion of its three-day Monetary Policy Committee meeting. This is the 25th
The data does contain some promising trends. Food inflation remained at 2.3% for the fourth month running, easing the burden on lower-income households which spend a large portion of their income on calories. This may temper wage demands in upcoming pay negotiations in sectors such as platinum mining. And relatively moderate inflation stays the hand of the Reserve Bank from tightening, which would raise borrowing costs for already hard-pressed consumers.
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