By Garth Theunissen Oct. 29 (Bloomberg) -- South Africa's rand strengthened against the dollar for a third day after a government report showed inflation in the continent's biggest economy slowed last month for the first time in more than a year. The rand rose 0.6 percent to 10.2277 per dollar by 12:28 p.m. in Johannesburg, from 10.2850 yesterday. Earlier it fell as much as 1.5 percent to 10.4438. South Africa's inflation rate slowed to 13 percent, from a record 13.6 percent in August, Pretoria-based Statistics South Africa said on its Web site today. The median estimate of 20 economists surveyed by Bloomberg was for a rate of 13.3 percent. To contact the reporter on this story: Garth Theunissen in Johannesburg gtheunissen@bloomberg.net

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