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Headline Inflation Slows To Two-Month Low Of +5.3% Y/Y

SOUTH AFRICA

South Africa's CPI inflation eased marginally more than expected in March but remained above the +4.5% Y/Y target mid-point, supporting SARB Governor Kganyago's latest comment that the job of fighting inflation "is not yet done."

  • CPI +5.3% Y/Y (BBG est. +5.4%)
  • CPI +0.8% M/M (BBG est. +0.9%)
  • Core CPI +4.9% Y/Y (BBG est. +4.9%)
  • Core CPI +0.7% M/M (BBG est. +0.8%)
Statistics SA: "The categories with the highest annual price changes in March were miscellaneous goods & services (up 8,5%), education (up 6.3%), health (up 6.0%) and housing & utilities (up 5.9%)." Note that "education fees are surveyed once a year in March."

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