The latest figures from Statistics SA have shown a slight dip in the Consumer Price Index (CPI), moving from 5.3% in March to 5.2% in April.

This trend is driven primarily by sectors such as housing and utilities, various goods and services, food and non-alcoholic beverages, and transportation costs.

Kruger pointed out a significant easing in food price inflation, which now stands at 4.4% annually, a stark contrast to the 14% recorded last year.

"This moderation is certainly welcome news for SA consumers, as it supports the argument for reduced interest rates," Kruger explained.

According to her projections, the second half of 2024 is expected to see the headline CPI average at approximately 4.5%. Optimistically, this could lead the Reserve Bank to initiate interest rate cuts as early as September of this year.

--Reuters--