South Africa: Inflation hits over one-and-a-half year low in June
July 19, 2017
In June, consumer prices inched down from May’s 0.3% to 0.2%. June’s increase is the result of higher prices in almost all components of the index such as housing and utilities and education.
Inflation dropped from 5.4% in May to 5.1% in June, the lowest print since November 2015. Inflation remains within the Central Bank’s target range of 3.0%–6.0% and the result was slightly below the 5.2% the markets had expected. Annual average inflation in June came in at 6.1% (May: 6.2%).
Core consumer prices—which exclude food, non-alcoholic beverages, energy and gasoline—rose 0.4% in June from the previous month, up from 0.1% in May. Core inflation in June remained unchanged at the 4.8% reading observed in the month prior.