Fuel prices drag South Africa's inflation down

18th February 2015, Comments 0 comments

South Africa's headline inflation fell to 4.4 percent in January, the lowest rate in nearly four years, official statistics showed Wednesday.

Propelled by low fuel prices, the rate dropped from 5.3 percent in December and is at its lowest since April 2011.

The central bank had forecast the annual average inflation rate for this year to be between three and six percent.

Economists see the February rate easing further.

"Inflation is likely to drop further in February as the effect of the significant fuel price decreases continue to filter through," said Nedbank in a note.

© 2015 AFP

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