South Africa’s annual inflation rate eased to 3.5% in November, down from 3.6% in October, according to data from the statistics agency.
This is slightly below market forecasts of 3.6%.
On a monthly basis, the Consumer Price Index decreased 0.1% in November, compared to a 0.1% increase in October.
The slowdown in inflation was driven by decreases in transport and recreation costs, while food and non-alcoholic beverages saw price increases.
The South African Reserve Bank had recently lowered its main lending rate by 25 basis points, citing an improved inflation outlook.
