Stats SA announced the latest CPI on Wednesday morning. Chief Director for Price Statistics, Patrick Kelly, says inflation slowed to 2,9% in February from 3,2% in January. This is the lowest reading since June 2020.

It is also below the South African Reserve Bank’s target range of between 3 and 6%. Kelly says the reading in June last year was 2,2%. "This is the third time in the past 12 months that the annual rate has slipped below the bottom end of the South African Reserve Bank’s inflation target range. "Inflation was below this 3% level in May and June last year.” 

Jacaranda News