Independent Economist, Elize Kruger says the steadily decline inflation makes a good case for an interest rate cut in the third quarter of the year.
The latest data released by Statistics South Africa shows the consumer price index declined from 5.3% in March to 5.2% in April.
It notes that the main drivers behind the headline inflation in April were housing and utilities, miscellaneous goods and services, food and non-alcoholic beverages, as well as transport.
Food inflation also declined for a fifth consecutive month moderating from 5.1% in March to 4.7% in April.
Annual consumer price #inflation slowed for a second consecutive month, easing to 5,2% in April from 5,3% in March and 5,6% in February.
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#StatsSA #CPI pic.twitter.com/7LUgcXr1K4— Stats SA (@StatsSA) May 22, 2024
