South Africa: South Africa’s CPI slows to 5.1% in June, food inflation at almost four-year low

CPI in June slowed to 5.1% year on year from 5.2% in May as food prices maintained their moderating trend and the retail price of petrol was cut by R1.24/litre at the start of June. 

Consumer inflation has been between 5% and 6% for the past 10 months, above the midpoint of the SA Reserve Bank’s 3% to 6% target range, where the central bank wants to see it firmly anchored.

But the trajectory is in the right direction and last week, when the SA Reserve Bank’s Monetary Policy…