The ANC has hailed a fall in South Africa’s consumer inflation to 3.3% in August from 3.5% in July, saying the 0.2-percentage-point dip offers "much relief to consumers" battling high food, fuel, transport, water and electricity costs.

In a statement, the party tied the easing price pressures to the SA Reserve Bank’s recent 25 basis-point interest rate-cut, modest reductions in petrol and diesel prices, and what it called the Electricity Minister’s intervention over an "erroneous" R54-billion tariff increase at Nersa. It said these developments together help cushion households, especially the poor and working class.

The ANC added that President Cyril Ramaphosa’s investment drive and the party’s economic action plan focused on inclusive local development, jobs and industrialisation would further improve living standards, pledging to work with business to create a consumer-friendly, job-creating economy.