South Africa's headline consumer inflation rose to 3.0% year on year in December from 2.9% in November , data from the statistics agency showed on Wednesday.

South Africa’s annual consumer price inflation ( CPI) rose to 3.0% in December 2024, up from 2.9% in November, according to the lastest report from Statistics South Africa (Stats SA).

Consumer prices rose 3% from a year earlier, compared with 2.9% in the prior month, Pretoria-based Statistics South Africa said

Inflation came in lower than expected for December, with another interest rate cut next week now seen as likely.

South Africa is focusing on implementing growth-enhancing reforms not regaining its investment-grade credit rating, which could take two years or more, its finance minister said on Monday.