S. African inflation falls to 5.1% in Dec.

South Africa’s annual consumer price inflation pulled back to 5.1 per cent in December, from 5.5 per cent in November and 5.9 per cent in October, according to data released by state’s statistics agency on Wednesday.

The average inflation rate for the last year reached 6.0 per cent compared to 6.9 per cent in 2022, with the highest reading at 7.1 per cent in March and lowest at 4.7 per cent in July, the data said.

Last week, South African central bank governor Lesetja Kganyago said that the disinflation process had begun and that he expected inflation to average five per cent this year.