What was South Africa's annual inflation rate in July, and how did it compare to both the previous month and economists' expectations?

South Africa's annual inflation rate eased to 4.3% in July, down from 5% in June, and came in lower than the median economist forecast of 4.5% in a Bloomberg survey of 18 analysts. Month-on-month inflation also slowed significantly to 0.2% from 0.7% in June.

What did the South African Reserve Bank (SARB) decide at its most recent policy meeting, and what is the timing of its next decision?

The South African Reserve Bank held interest rates steady at 7% at its most recent meeting, citing an improved inflation outlook and confidence that price pressures would return to its 3% target; it had previously raised rates in May and indicated it would be patient while assessing the outlook. The SARB will announce its next monetary policy decision following the conclusion of its meeting on September 23.

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South Africa's annual inflation slowed to 4.3% in July, reinforcing the Reserve Bank's stance to hold interest rates at 7%, while lower petrol prices reflected a retreat in crude oil costs amidst Middle East conflict volatility.

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South Africa Inflation Cools, Making Case to Hold Rates

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