Inflation falls to it's lowest levels in 8 years
Consumer Price Inflation (CPI) has dropped to 3.7 % in October, the lowest inflation since 2011.
Statistics South Africa (StatsSA) has announced that this decreased followed from 4.1 % in September 2019.
Chief Director for Price Statistics Patrick Kelly says this is the lowest annual increase since February 2011.
"On average, prices were unchanged between September and October. This means that the drop in the annual rate is mainly because of the increase between September and October 2018."
Yet, Efficient Group economist Francois Stofberg says it is not completely clear why there has been such a decrease in recent months.
However, he adds it's overall good news for heavily indebted South Africans.