SA’s inflation slows in November

South Africa’s headline consumer inflation fell to 5.5% year on year in November from 5.9% in October, statistics agency data showed on Wednesday.

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Core inflation, which excludes food and fuel prices, rose to 4.5% year-on-year in November from 4.4% in October, the statistics agency said.

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November’s headline reading remains within the South African Reserve Bank’s inflation target range of 3% to 6%.

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At the bank’s last policy meeting in November, Governor Lesetja Kganyago reiterated the bank’s expectation that inflation would stabilise around the mid-point of its target band by 2025.