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Financial News: South Africa Inflation Rises In September

South Africa Inflation Rises In September

10/20/2021 - 06:17:00 (RTTNews)

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

The consumer price index rose 5.0 percent year-on-year in September, following a 4.9 percent increase in August. This was in line with economists' expectation.

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 6.6 percent annually in September and housing and utilities cost rose by 4.0 percent.

Prices of miscellaneous goods and services, and transport grew by 4.0 percent and 10.1 percent, respectively.

On a month-on-month basis, consumer price grew 0.2 percent in September. Economists had forecast a 0.3 percent rise.

The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, was 3.2 percent in September. Economists had forecast a 3.1 percent increase.

On a monthly basis, core CPI rose 0.3 percent in September. Economists had expected an increase of 0.2 percent.

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