February inflation slipped to 2.9% year-on-year, from 3.2% reported in January. Consumer inflation data, released by Stats SA on Wednesday, showed that this is the lowest reading since June 2020 when the rate was 2.2%. The Reserve Bank's monetary policy committee is meeting this week and is due to make a rates announcement on Thursday. Economists previously expressed expectations for rates to remain on hold, but the latest inflation print is below the 3% to 6% target range of the SA Reserve Bank.
