South Africa consumer inflation at 3.2% y/y in February

South Africa’s headline consumer inflation remained at 3.2% year on year in February, unchanged from the month before, data from the statistics agency showed on Wednesday.

In month-on-month terms inflation was at 0.9% in February, versus 0.3% in January.

Economists had forecast annual inflation would pick up slightly to 3.3%, still well below 4.5% – the level the South African Reserve Bank aims for.

The central bank is set to announce its next monetary policy decision on Thursday, after cutting rates at its last three meetings.

Economists polled by Reuters think the bank could pause its rate-cutting cycle given risks emanating from US President Donald Trump‘s tariff war and a deadlock in the ruling coalition over the country’s national budget

REUTERS