JOHANNESBURG (Reuters) -South Africa’s headline consumer inflation edged up to 2.9% year on year in November from 2.8% in October, staying just below the central bank’s target range, data from the statistics agency showed on Wednesday.
Economists polled by Reuters had forecast inflation would accelerate to 3.1%, within the South African Reserve Bank’s 3% to 6% band.
The central bank last month cut its main lending rate for the second meeting in a row, after inflation dropped below the target range in October for the first time in years.
In month-on-month terms inflation was at 0.0% in November, versus -0.1% in October.
