Stats SABusinessLive reports that consumer inflation slowed in November, hitting the lowest level since December 2010, Statistics SA indicated on Wednesday.  

Annual growth in consumer prices, as measured by the change in the consumer price index (CPI), slowed to 3.6% in November, down from 3.7% in October.  “Since the end of 2016, inflation has been on a downward trend, and has remained firmly within the SA Reserve Bank’s 3%-6% monetary policy range since April 2017,” Stats SA indicated.  The last time inflation was this low was when it hit 3.5% in December 2010.  According to the agency, the transport category moved into deflationary territory in November, showing an average annual price decrease of 0.3%.  The main contributors to the 3.6% annual inflation rate were food and nonalcoholic beverages; housing and utilities; and miscellaneous goods and services.  Food and nonalcoholic beverages increased 3.5% year-on-year, while housing and utilities increased 4.8% year-on-year.


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