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South African inflation eases to 3.5%; surge in rand reduces costs

30-Sep-2010 7:51 AM

Statistics South Africa stated (29-Sep-2010) inflation slowed from 3.7% in Jul-2010 to 3.5% in Aug-2010 as the gain in the rand (the rand has climbed approximately 10% against the US Dollar this quarter) and lower gasoline costs helped to curb prices, keeping inflation in the 3-6% target range.