Consumer inflation hits lowest level in two years

JOHANNESBURG - Consumer inflation has dropped to its lowest point in two years.

It's eased to 4.7 percent in July from 5.4 percent in June.

READ: Consumer inflation falls to 5.4%

This supports the case for the Reserve Bank to pause rate hikes again next month.

The Reserve Bank’s target band is between 3 and 6 percent, with the midpoint being the goal.

Meanwhile, food inflation stands at 9.9 percent for July.