CPI dips to 4.4% in August

South Africa's consumer inflation slowed to 4.4% in August, down from 4.6% in July 2024. Economists say inflation is expected to continue its downward trend in the next couple of months because of the lower fuel prices and the stronger rand. Independent Economist Elize Kruger says this is good news for consumers as this data gives some room for monetary policy loosening amid a sluggish economic environment. The main contributors to the annual inflation rate were housing and utilities, miscellaneous goods and services and transport. However following an 8-month downtrend, the annual food and non-alcoholic beverages inflation contributed negatively to the inflation rate picking up to 4.7% in August, from 4.5% in July. For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.