Inflation in South Africa slows to 15-year low

South Africa’s headline consumer inflation rate slowed to 3% year on year in April, its lowest in nearly 15 years, from 4.1% in March, data from Statistics South Africa showed on Wednesday.

On a month-on-month basis, the consumer price index was at -0.5% in April from a 0.3% increase the previous month.

Core inflation, which excludes prices of food, non-alcoholic beverages, petrol and energy, slowed to 3.2% year on year in April compared to a rate of 3.7% in March. On a month-on-month basis, core inflation fell to rate of -0.2%, from 0.6% previously.  — Reported by Mfuneko Toyana, (c) 2020 Reuters