South Africa inflation stays beneath central financial institution goal in November

JOHANNESBURG (Reuters) -South Africa’s headline shopper inflation edged as much as 2.9% 12 months on 12 months in November from 2.8% in October, staying slightly below the central financial institution’s goal vary, knowledge from the statistics company confirmed on Wednesday.

Economists polled by Reuters had forecast inflation would speed up to three.1%, inside the South African Reserve Financial institution’s 3% to six% band.

The central financial institution final month lower its major lending price for the second assembly in a row, after inflation dropped beneath the goal vary in October for the primary time in years.

In month-on-month phrases inflation was at 0.0% in November, versus -0.1% in October.