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Financial News: South Africa Inflation Lowest In Over 8-1/2 Years

South Africa Inflation Lowest In Over 8-1/2 Years

11/20/2019 - 04:12:00 (RTTNews)

(RTTNews) - South Africa's consumer price inflation eased for a second straight month to the lowest in more than eight-and-a-half years in October, data from Statistics South Africa showed on Wednesday.

The consumer price index rose 3.7 percent in October, after a 4.1 percent increase in September. Economists had expected a 3.9 percent rise.

The rate was the lowest since February 2011, when the annual inflation was 3.7 percent, the agency said.

The main contribution came from food and non-alcoholic beverages, housing and utilities; and miscellaneous goods and services.

Prices of food and non-alcoholic beverages rose 3.6 percent annually and housing and utility costs grew 4.8 percent. Miscellaneous goods and services prices climbed 5.7 percent.

Excluding food, non-alcoholic beverages, fuel and energy, core inflation was 4.1 percent in October.

On a monthly basis, consumer prices remained unchanged in October.

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