South Africa’s headline consumer inflation rose to 3.2% year-on-year in January, slightly below economists’ forecasts of 3.3%.
The inflation rate increased from 3.0% in December, but remained below the South African Reserve Bank’s target of 4.5%.
The statistics agency reported that monthly inflation was 0.3% in January, up from 0.1% in December.
The agency also introduced updated weights and changes to the consumer inflation basket, including new items such as rosé wine, air fryers, and streaming services.
The central bank has cut interest rates at its last three monetary policy meetings, and the latest inflation data may influence its future decisions.
