South Africa’s inflation fell to 5.3% year on year in March in a sign that Africa’s most industrialized economy was winning the battle to bring down prices.<\/p>\n
Headline consumer inflation stood at 5.6% in February after reaching 5.3% in January, data from the statistics agency showed on Wednesday.<\/p>\n
Even then, South Africa’s central bank which targets inflation of between 3% and 6%, is not expected to announce interest rate cuts soon.<\/p>\n
The bank has kept its main interest rate unchanged at 8.25% for some months.<\/p>\n
On Wednesday, the International Monetary Fund (IMF) cut its growth outlook for South Africa, taking its GDP growth projections for the country for 2024 to just 0.9%.<\/p>\n
It is a revision down from 1% the lender assessed in January. South Africa’s GDP outlook is the second lowest in Sub-Saharan Africa, with only Equatorial Guinea coming in lower (0.5%).<\/p>\n
South Africa’s economy, already weakened by the pandemic, has suffered multiple crises ranging from large scale power and water cuts, floods and widespread infrastructure failures.<\/p>\n
The IMF says that the country will continue to battle inflation and high unemployment this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
South Africa’s inflation fell to 5.3% year on year in March in a sign that Africa’s most industrialized economy was winning the battle to bring down prices. Headline consumer inflation stood at 5.6% in February after reaching 5.3% in January, data from the statistics agency showed on Wednesday. Even then, South Africa’s central bank which […]<\/p>\n","protected":false},"author":1,"featured_media":11494,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":5,"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"Africa News","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"0","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"0","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":[],"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,30],"tags":[2203,1163,122,2357],"class_list":["post-11493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-southern-africa","tag-inflation","tag-international-monetary-fund-imf","tag-south-africa","tag-south-african-reserve-bank"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/11493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=11493"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/11493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/11494"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=11493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=11493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=11493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}