South African consumer price inflation slowed more than expected to a four-year low in April as food price pressure eased, possibly boosting chances of another interest rate cut.
Statistics South Africa said on Wednesday annual inflation slowed to 4.8 percent in April, compared with March's 5.1 percent.
Inflation has slowed sharply since peaking at close to 14 percent in 2008. Food price inflation, the main driver at the time, has trended downwards, braking to 0.9 percent on an annual basis in April, compared to 1.3 percent in March.
The favourable positive inflation news might give SARB room to cut interest rates.For now the expectation is that the repo will be kept on hold.
The JSE also recovered from yesterday's losses and is currently up just over 2%
