The South African government has welcomed the sustained decrease in annual consumer inflation.
The inflation rate decreased to 3.8% at the end of September 2024, down from 4.4% in August. This 3.8% rate is the lowest since March 2021, when it was 3.2%.
This sustained decline, which can be attributed to lower fuel prices – around 9% lower than in 2023 – eases the cost of living for South African households and positively influences the national economy.
“The continued easing of inflation, particularly in essential areas like transport, is a welcome relief for South African households,” said Nomonde Mnukwa, acting Director-General of the Government Communication and Information System.
“Lower fuel prices are helping to cushion the impact of broader economic challenges, and we remain committed to implementing policies that support economic stability and sustainable growth. This trend is an encouraging sign as we work to provide further economic relief for all citizens,” she concluded.
Compiled by Warren Hawkins
