South African Inflation Dips Deeper Below Midpoint of Target Range
- Price growth remains within 3%-6% target range for 11th month
- Central bank to make decision on interest rates next week
Shopping carts sit ahead of use outside a Shoprite Holdings Ltd. supermarket in Alexandra district of Johannesburg, South Africa.
Photographer: Waldo SwiegersThis article is for subscribers only.
South Africa’s inflation rate fell further below the midpoint of the target range in February, giving the central bank another reason to consider easing monetary policy next week.
Inflation slowed to 4 percent, the lowest level in almost three years, from 4.4 percent in January, Pretoria-based Statistics South Africa said Tuesday in a report on its website. The median estimate of 21 economists in a Bloomberg survey was 4.1 percent. Prices rose 0.8 percent in the month.