South Africa: Inflation slides to six-month low in July
August 21, 2019
Consumer prices rose 0.4% over the previous month in July, matching June’s month-on-month upturn. July’s print reflected a faster rise in the prices for housing and utilities, which more than offset a marked fall in transport costs. Core consumer prices, also, jumped 0.4% in July, mirroring June’s result.
Meanwhile, inflation slid to 4.0% in July from 4.5% in June, thus moving below the midpoint of the South African Reserve Bank’s (SARB) target band of 3.0%–6.0%. July’s reading was the lowest in six months. Core inflation, fell to 4.2% in July from 4.3% in June. meanwhile, edged up to 4.3% from 4.1% in May. Lastly, annual average inflation inched down to 4.5% from 4.6% in June.
Author: Nihad Ahmed, Economist