South Africa’s inflation rate fell below the central bank’s target ceiling for the first time in 14 months, on lower food costs.
Consumer prices rose an annual 5.4% in June from 6.3% the previous month, Pretoria-based Statistics South Africa said Wednesday in a statement on its website. The median estimate of 22 economists in a Bloomberg survey was 5.5%.
Read More : South African Inflation Returns to Central Bank’s Desired Range