South Africa's headline consumer inflation fell more than expected in October, to 2.8% year on year from 3.8% in September , statistics agency data showed on Wednesday.

This will ensure that earnings beat inflation, meaning that South Africans should get richer. In Q4, 65% of respondents reported being able to pay their bills in full, which is a six-percentage point YoY increase. Gen Z and Millennials lead the trend at 68% and 66%, respectively.

South African consumers have been under immense pressure over the past three years due to rising inflation. The annual inflation for food and non-alcoholic beverages dropped to 3.6 percent in October, the lowest since November 2019.