South Africa: Inflation declines to three-month low in July
Consumer prices increased 1.08% in July over the previous month, after the 0.20% increase logged in June. July’s result was the sharpest increase in prices in a year. The reading was driven by rising prices for housing and utilities, as well as for transportation.
Inflation inched down to a three-month low of 4.6% in July, following June’s 4.9%. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 3.7% in July (June: 3.5%). Lastly, core inflation edged down to 3.0% in July, from June’s 3.2%.