South Africa’s headline consumer inflation slowed more than expected to 5.3 percent year-on-year in April from 6.1 percent in March, data from Statistics South Africa showed on Wednesday, sending the rand to a new 4-week high.
Economists polled by Reuters had forecast a 5.55 percent year-on-year inflation print.
On a month-on-month basis, inflation fell to 0.1 percent in April from 0.6 percent previously.
Core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, slowed to 4.8 percent year-on-year in April from 4.9 percent and fell to 0.2 percent on a month-on-month basis from 0.7 percent.
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