South African Inflation Slows to 4.9% as MPC Mulls Rates Stance

(Bloomberg) -- South African inflation slowed in August from a 10-month high.

Consumer price growth decelerated to 4.9 percent from 5.1 percent in July, Pretoria-based Statistics South Africa said Wednesday in a statement on its website. The median estimate of 18 economists in a Bloomberg Survey was 5.2 percent. Prices fell 0.1 percent in the month.

The release come as the Monetary Policy Committee is meeting in preparation for a announcement on borrowing costs Thursday. Only three of the 19 economists in a Bloomberg survey project that the panel will raise its benchmark rate for the first time since 2016. The rest forecast an unchanged stance of 6.5 percent.

Core inflation, which excludes the prices of food, non-alcoholic beverages, energy and gasoline, slowed to 4.2 percent from 4.3 percent.

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