South Africa’s headline consumer inflation slowed to 7.2% year on year in December from 7.4% in November, in line with analysts’ forecasts. Price pressures have been gradually easing after inflation struck a 13-year high of in July. The South African Reserve Bank has raised interest rates to fight inflation at its last seven monetary policy meetings since its latest tightening cycle began in November 2021. The central bank, whose next rate-setting decision is due on Jan. 26, targets inflation of between 3% and 6%.
Source : CNBC Africa