South African inflation falls more than expected, sets stage for rate cut

South Africa's inflation rate fell more than expected last month to its lowest since April 2021, data showed on Wednesday, reinforcing expectations that the central bank will cut interest rates this week. Headline consumer inflation fell to 4.4% year-on-year from 4.6% in July, just below the 4.5% midpoint of the South African Reserve Bank's target range where it likes to see inflation.