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Financial News: South Africa Inflation Slows In September

South Africa Inflation Slows In September

10/28/2020 - 07:09:00 (RTTNews)

(RTTNews) - South Africa's inflation eased to the lowest in three months in September, figures from Statistics South Africa showed on Wednesday.

The consumer price index rose 3.0 percent year-on-year in September, after a 3.1 percent increase in August. Economists had expected the inflation to remain at 3.1 percent.

The latest inflation was the lowest since July, when it was 3.2 percent.

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

Prices for food and non-alcoholic beverages increased by 3.9 percent annually in September and housing and utilities cost rose by 2.8 percent.

Prices of miscellaneous goods and services rose 6.5 percent.

On a month-on-month basis, the consumer price index increased 0.2 percent in September. Economists had expected 0.3 percent rise.

The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, was 3.3 percent in September. Economists had expected a 3.2 percent increase.

On a monthly basis, the core CPI rose 0.2 percent in September, in line with economists' expectation.

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