Government welcomes October inflation sharp drop to 2.8%
Government welcomes the latest data from Statistics South Africa (Stats SA), which shows a sharp decline in consumer price inflation (CPI) to 2.8% in October 2024, down from 3.8% recorded in September 2024. This marks the lowest inflation rate since June 2020, when the country experienced a rate of 2.2% during the COVID-19 pandemic.