JOHANNESBURG (Reuters) – South Africa’s headline consumer inflation fell more sharply than expected in March, to 2.7% year on year from 3.2% in February, data from the statistics agency showed on Wednesday.
Economists polled by Reuters had forecast annual inflation would slow to 2.9%, just below the bottom of the South African Reserve Bank’s 3% to 6% target range.
The central bank last month left its main lending rate unchanged after three consecutive rate cuts, citing risks stemming from U.S. President Donald Trump’s global trade war and the country’s disputed national budget.
In month-on-month terms inflation was at 0.4% in March, down from 0.9% in February.
(Reporting by Bhargav Acharya and Sfundo Parakozov; Editing by Alexander Winning)
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