South Africa: Inflation inches up in November
December 10, 2015
In November, consumer prices increased 0.09% over the previous month, which came in below October’s 0.26% increase. According to Statistics South Africa, November’s result mainly reflected higher prices for food.
Inflation inched up from 4.7% in October to 4.8% in November, thus hitting a four-month high. Inflation is still within the Central Bank’s target range of 3.0%–6.0%. Annual average inflation slid from October’s 4.7% to 4.6% in November, marking the lowest reading since October 2011.
Core consumer prices, which exclude prices for food, fuel and electricity, rose 0.1% over the previous month, which was below the 0.2% increase observed in October. Finally, annual core inflation was stable at October’s 5.5%.
Author: Dirina Mançellari, Senior Economist