The Consumer price inflation rate has decreased to 4.1% in September, from 4.3% in August 2019. Statistics South Africa says the main contributors to the slowdown in the inflation rate came from food, housing and utilities, as well as miscellaneous goods and services.
#CPI inflation was 4,1% in September 2019, down from 4,3% in August 2019. CPI increased by 0,3% m/m in September 2019
Read more here: https://t.co/l9HaziW5BW#StatsSA pic.twitter.com/SC8s3KanOX
— Stats SA (@StatsSA) October 23, 2019
An economist at Econometrix, Laura Campbell, says the drop in the inflation rate should encourage the Reserve Bank to reduce interest rates.
“The fact that the CPI inflation came in lower than expected mainly increases cause for the Reserve Bank to cut interest rates further in the short term. But this is speculative at best because the Reserve Bank has its concerns about the fiscal situation domestically and the potential upheaval globally which the current trade tensions could bring about.”
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