South Africa: Inflation rises in December
Consumer prices rose 0.3% in December, up from a 0.1% increase in November. The reading reflected higher prices for non-durable goods and services.
Inflation climbed to 4.0% from November’s 3.6%, which had marked the lowest print since February 2011. Thus, inflation moved closer to the midpoint of the South African Reserve Bank’s (SARB) target band of 3.0%–6.0%. Meanwhile, core inflation edged down to 3.8% in December (November: 3.9%), while annual average inflation eased to 4.1% (November: 4.2%).