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Financial News: South Africa Inflation Slows In July

South Africa Inflation Slows In July

08/18/2021 - 04:53:00 (RTTNews)

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

The consumer price index rose 4.6 percent year-on-year in July, after a 4.9 percent increase in June. 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 6.7 percent annually in July and housing and utilities cost rose by 3.8 percent.

Prices of miscellaneous goods and services, and transport grew by 4.2 percent and 8.0 percent, respectively.

On a month-on-month basis, consumer price grew 1.1 percent in July. This was in line with economists' expectation.

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

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