Consumer inflation dips sharply in October

A woman uses a trolley as she shops at a Pick n Pay store at the Dobson Point Shopping Centre, in Soweto, South Africa, March 19, 2024.

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Data released by Statistics South Africa (Stats SA) shows that consumer price inflation declined sharply to a four-year low from 3.8% in September to 2.8% in October 2024.

Stats SA notes that the drop in fuel prices remains the main factor behind the slowdown in inflation.

Petrol and diesel prices declined by 5.3% between September and October.

Consumer price #inflation cooled for a fifth consecutive month, easing to 2,8% in October from 3,8% in September. This is the lowest inflation print since June 2020, when the rate was 2,2%.

Listen here for more: https://t.co/VOVr9pgi9N #StatsSA #CPI #GovZAupdates pic.twitter.com/XFaqebLflD

— Stats SA (@StatsSA) November 20, 2024