South Africa: Inflation edges down to seven-month low in September
October 23, 2019
Consumer prices climbed 0.3% over the previous month in September, matching the month-on-month upturn in August. Higher costs for housing and utilities were the main drivers of the overall increase. Meanwhile, prices for food and non-alcoholic beverages, and transport—which also carry significant weight in the index—rose at a slightly softer pace,
Inflation edged down to 4.1% in September from 4.3% in August, further below the midpoint of the South African Reserve Bank’s (SARB) target band of 3.0%–6.0%. September’s print was the lowest in seven months. Meanwhile, core inflation fell to 4.0% in September from 4.3% in August. Lastly, annual average inflation inched down to 4.4% from 4.5% in the previous month.
Author: Nihad Ahmed, Economist