South Africa: Inflation softens in August
September 21, 2022
Inflation came in at 7.6% in August, which was down from July’s 7.8%. The softer rise was primarily driven by slower growth in prices for housing and utilities. Moreover, prices for recreation and culture also grew at a more subdued pace.
Stil, the trend pointed up, as annual average inflation rose to 6.2% in August (July: 5.9%). Meanwhile, core inflation edged down to 4.4% in August, from July’s 4.6%.
Finally, consumer prices rose 0.19% over the previous month in August, moderating from July's 1.54% rise. August's result marked the softest rise in prices since May 2021.