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Financial News: South Africa Inflation Rises In August

South Africa Inflation Rises In August

09/22/2021 - 05:09:00 (RTTNews)

(RTTNews) - South Africa's consumer price inflation increased in August, figures from Statistics South Africa showed on Wednesday.

The consumer price index rose 4.9 percent year-on-year in August, following a 4.6 percent increase in July. Economists had expected a 4,8 percent rise.

The main contributions to the annual inflation came from food and non-alcoholic beverages, housing and utilities, transport, and miscellaneous goods and services.

Prices for food and non-alcoholic beverages increased by 6.9 percent annually in August and housing and utilities cost rose by 3.8 percent.

Prices of miscellaneous goods and services, and transport grew by 4.2 percent and 9.9 percent, respectively.

On a month-on-month basis, consumer price grew 0.4 percent in August. Economists had forecast a 0.3 percent rise.

The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, was 3.1 percent in August. Economists had forecast a 3.0 percent increase.

On a monthly basis, core CPI rose percent in August. Economists had expected an increase of 0.3 percent.

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