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Financial News: South Africa Inflation Lowest Since Feb 2011

South Africa Inflation Lowest Since Feb 2011

04/18/2018 - 07:08:00 (RTTNews)

(RTTNews) - South Africa's consumer price inflation eased for the third straight month in March to the lowest level in just over seven years, figures from Statistics South Africa showed Wednesday.

Inflation eased to 3.8 percent in March from 4.0 percent in February. Meanwhile, it was forecast to rise to 4.1 percent.

Moreover, this was the weakest inflation since February 2011, when prices had risen 3.7 percent.

Prices of food and non-alcoholic beverages rose 3.5 percent annually and transport costs grew 2.8 percent.

Month-on-month, consumer prices increased 0.4 percent from February, when it climbed by 0.8 percent. The expected increase was 0.6 percent.

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