Inflation cools for a third straight month as food prices ease
The slowdown gives policymakers room to hold, but the service sector is still running hot.
Headline inflation slowed for a third consecutive month, according to data published on Thursday, as a better harvest and a firmer currency took the edge off food-price growth.
The deceleration was broad but uneven. Core inflation, which strips out volatile food and energy items, remained stubbornly above the central bank's comfort zone, driven by services and transport.
A cautious pause
Economists said the numbers reduce the pressure for another near-term rate increase, though few expect an imminent pivot to easing. Real interest rates remain positive, which many argue is the more important signal for long-term investors.
The central bank's next meeting is widely expected to leave the benchmark rate unchanged while retaining a tightening bias in its guidance.
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About the author
Tunde Balogun
Economics Correspondent
Tunde Balogun writes for BusinessPress.
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