Food inflation steadies at 40.1% y-y in September 2024, but monthly pressures remain.
A further breather for consumers as South Africa's headline inflation shaved off two‑percentage points from the August print and decelerated further to 3.8% y/y in September 2024, which is a 42-month low. Monthly, headline inflation remained flat at 0.1% m/m. This is good news as inflation continues to trend below the SARB's target midpoint of 4.5% which signals a potential further policy accommodation before the end of the year.
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