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South Africa's annual consumer inflation eased to 5.1% in June from 5.2% in May, a six-month low. Food inflation rose 4.6%, its slowest gain since September 2020, and the central bank's inflation outlook improved.
Slower food inflation reduces domestic pressure on feed and food input costs, and the improved outlook raises the chance of earlier interest-rate cuts, which tends to weaken the rand.
moneyweb.co.zaNtando Thukwana, BloombergJul 24, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
