South Africa: Inflation hits seven-month high in October
November 25, 2020
Consumer prices increased 0.26% in October over the previous month, picking up from September's 0.17% increase. Looking at the details of the release, price pressures for food and non-alcoholic beverages picked up pace, while prices for housing and utilities were broadly stable in October.
Inflation came in at 3.3% in October, up from September’s 3.0%. October's result marked the highest inflation rate since March. Meanwhile, the trend was unchanged with annual average inflation coming in at September's 3.4% in October. Lastly, core inflation ticked up to 3.4% from the previous month's 3.3%.
Author: Hanna Andersson, Economist