South Africa: Inflation hits eight-month low in February
Consumer prices rose 0.68% in February over the previous month, accelerating from January’s 0.34% increase, marking the sharpest increase in prices since July 2020. Looking at the details of the release, transportation prices rose markedly compared to the previous month, while price pressures for alcoholic beverages and tobacco gained steam.
Consumer prices dropped to 2.9% in February, from January’s 3.2%. February’s figure marked the lowest inflation rate since June 2020. Annual average inflation edged down to 3.0% in February (January: 3.2%). Lastly, core inflation fell to 2.6% from January’s 3.3%.