JOHANNESBURG (Reuters) – South Africa’s headline consumer inflation fell to 5.5% year on year in November from 5.9% in October, statistics agency data showed on Wednesday.
Core inflation, 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.
(Reporting by Bhargav Acharya; Additional reporting by Tannur Anders; Editing by Alexander Winning)
