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Decrease in consumer price inflation

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A decrease in consumer price inflation spells good news for South Africans who will pay a little less on their goods and services.

Statistics South Africa has reported a slowdown in the headline CPI to 4.4% in January, from 4.7% in December last year.

The main contribution to the decrease in headline inflation came from a decrease in transport costs.

Inflation has remained within the South African Reserve Bank‘s target band of 3 to 6% for the past ten months.

The latest reading raises hopes for an interest rates cut by the Reserve Bank next month, an important consideration with Finance Minister Malusi Gigaba expected to table a tough Budget this Wednesday afternoon.

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