EFF has welcomed the consumer price inflation figures released by Statistics South Africa

In S.A, the EFF has welcomed the consumer price inflation figures released by Statistics South Africa, indicating a further decline from 4.4-percent in August to 3.8-percent in September. This marks the lowest inflation rate since March 2021. The EFF’s, Leigh-Ann Mathys, says this confirms the inflationary pressures faced by the country are not demand-driven, but a result of economic and global challenges that require a different monetary policy approach:

Meanwhile, ActionSA says the lowering of the consumer price index provides a scope for the Reserve Bank to further reduce interest rates, which has real human consequences. ActionSA’s Alan Beesley says this decline is largely due to external factors such as lower global oil prices, rather than any of the government of national unity’s doing: