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Financial News: South Africa's Inflation At 3-Year Low

South Africa's Inflation At 3-Year Low

03/20/2018 - 05:02:00 (RTTNews)

(RTTNews) - South Africa's consumer prices climbed at the slowest pace in three years in February, Statistics South Africa reported Tuesday.

Inflation eased to 4 percent in February from 4.4 percent in January. This was the lowest since February 2015, when prices gained 3.9 percent. Economists had forecast inflation to slow to 4.1 percent.

Food and non-alcoholic beverages prices rose 3.9 percent annually and alcoholic beverages and tobacco prices climbed 6.1 percent.

Transport cost grew 3.2 percent and miscellaneous goods and services cost gained 6.2 percent.

Month-on-month, consumer prices increased 0.8 percent in February, slightly slower than the expected 0.9 percent.

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