CPI declines to three-year low of 4.6%

JOHANNESBURG - Good news for consumers as inflation declines to a three-year low.  

Inflation went down to 4.6 percent in July from 5.1 percent in June.

The July inflation data is the lowest since July 2021.

WATCH: All eyes on July inflation numbers

This is the third consecutive month that it's fallen.

Lower annual rates were recorded in several products including food, non-alcoholic beverages and transport.

Inflation has been steady for about 10 months in the range of five to six percent.

Now, this paves the way for the Reserve Bank to slash interest rates next month.