Consumers can breathe a sigh of relief as prices ease to their lowest level in three years.
This as data released by Statistics South Africa shows that the Consumer Price Inflation (CPI) has cooled down further from 4.6% in July to 4.4% in August 2024.
Stats SA notes the contributions to the decline came from transport, housing, restaurants and hotels.
The Consumer Price Index (CPI) has fallen below the Reserve Banks 4.5% midpoint target, strengthening the case for interest rate cuts this year.
Fuel prices were the largest positive contributor, declining for a third consecutive month.
