South Africa

South Africa Inflation February 2019

South Africa: Inflation ticks up from a 10-month low in February

Consumer prices rose 0.8% from a month earlier in February, contrasting January’s 0.2% fall and landing in line with analysts’ expectations. Notably, higher goods and services costs were behind the reading; fuel costs contributed marginally. To that effect, core consumer prices—which exclude food and fuel prices—jumped 1.1%, up from 0.2% in January.

Inflation edged up to 4.1% (January: 4.0%) but remained below the midpoint of the South African Reserve Bank (SARB)’s target band of 3.0%–6.0%. Core inflation was stable from January at 4.4%, while annual average inflation was stable at 4.6%.

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