JOHANNESBURG – South African consumer prices rose 5.1% in September compared to a year earlier, the country's statistics office said Wednesday.
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That marked a slight increase from the 4.8% inflation seen in August, but stayed firmly within the central bank's target range of annual price increases of between 3% and 6%.
September's inflation reading could dampen expectations of a further rate cut by the South African Reserve Bank. The bank has been cautious about cutting rates beyond an 0.25 percentage-point reduction to 6.75% in July, even as Africa's most developed economy battles with low growth and high unemployment.
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(END) Dow Jones Newswires
October 18, 2017 04:27 ET (08:27 GMT)