South Africa Inflation Rises In December

By Chinasaokwu Helen Okoro

South Africa’s headline consumer inflation rose less than expected in December, to 3.0% year on year from 2.9% in November, data from the statistics agency showed on Wednesday.

In month-on-month terms inflation was at 0.1% in December, versus 0.0% in November.

Economists polled by Reuters had forecast annual inflation would accelerate to 3.2%, still well below 4.5% – the level the South African Reserve Bank (SARB) aims for.

The central bank cut interest rates at its last two meetings of 2024, and many analysts expect a further cut at its first monetary policy announcement of this year next Thursday.

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