South Africa: Inflation drops to lowest level since June in September
October 19, 2022
Inflation dropped to 7.5% in September, which followed August’s 7.6%. September's figure marked the lowest inflation rate since June. Looking at the details of the release, the moderation was chiefly due to transportation price growth easing in September, which more than offset prices for housing and utilities, as well as for food and non-alcoholic beverages, rising at a faster pace.
Still, the trend pointed up slightly, with annual average inflation coming in at 6.4% in September (August: 6.2%). Meanwhile, core inflation rose to 4.7% in September, from August’s 4.4%.
Lastly, consumer prices rose 0.09% in September over the previous month, moderating from August's 0.19% rise. September's result marked the weakest reading since November 2020.