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.

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.

South African Reserve Bank Governor Lesetja Kganyago said a review of its 3% to 6% inflation target was getting close to the end.