South Africa’s (SA) headline consumer inflation slowed to 3.5% year on year in January, down from 3.6% in December, data from the statistics agency showed on Wednesday.

Economists polled by Reuters had expected annual inflation would come in at 3.4% in January.

SA’s Central bank kept its repo rate unchanged at 6.75% at its last monetary policy meeting in January, saying it wanted to see inflation expectations fall further and citing potential price pressures including electricity tariffs.

–Reuters–