South Africa: Inflation stabilizes in September
October 21, 2015
In September, consumer prices were unchanged over the previous month, which matched August’s figure. According to Statistics South Africa, September’s result mainly reflects that higher prices for food offset lower prices for textiles.
Inflation was stable at August’s 4.6% in September, thus remaining at a three-month low. As a result, inflation is still within the Central Bank’s target range of 3.0%–6.0%. Annual average inflation inched down from August’s 4.9% to 4.8% in September, the lowest reading since October 2011.
Core consumer prices, which exclude prices for food, fuel and electricity, rose 0.4% over the previous month, which was above the 0.1% increase observed in August. Finally, annual core inflation inched up from 5.5% in August to 5.6% in September.
Author: Dirina Mançellari, Senior Economist