South Africa: Inflation recedes in August
September 30, 2020
Consumer prices rose 0.17% from the previous month in August, coming in below the 1.31% rise logged in July and marking the softest rise in prices since May. The result was largely driven by moderating price pressures for housing and utilities as well as for transportation. Prices for alcoholic beverages and tobacco goods also grew at a more subdued pace compared to the previous month.
Inflation came in at 3.1% in August, down slightly from July’s 3.2%. Accordingly, the trend pointed down mildly, with annual average inflation coming in at 3.5% in August (July: 3.6%). Lastly, core inflation rose to 3.3% from the previous month's 3.2%.
Author: Hanna Andersson, Economist