By Aaisha Dadi Patel
JOHANNESBURG--South Africa's annual consumer price inflation inched down to 3.0% in September from 3.1% in August.
The reading is just within the South African Reserve Bank's target range of between 3% and 6% annual inflation.
The data comes ahead of a mid-term budget update on Wednesday afternoon, after an economic recovery plan outlined by the president earlier in October. The South African Reserve Bank in September forecast that Africa's most developed economy will shrink 8.2% this year.
As of Tuesday evening, South Africa has recorded 717,851 coronavirus infections and 19,053 deaths--more than any other African country.
Write to Aaisha Dadi Patel at aaisha.dadipatel@wsj.com
(END) Dow Jones Newswires
10-28-20 0430ET
