Latest News

South Africa Inflation Rises Unexpectedly

Read more

South Africa’s consumer price inflation increased unexpectedly in October, figures from Statistics South Africa showed on Wednesday.

The consumer price index rose 7.6 percent year-on-year in October, following a 7.5 percent increase in September. Economists had expected the inflation rate to slow to 7.4 percent.

The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, rose to 5.0 percent in October.

Transport costs surged the most among the main components, by 17.1 percent annually, and prices of food and non-alcoholic beverages grew 12.0 percent.

Housing and utilities costs gained 4.3 percent and those for miscellaneous goods and services increased 4.8 percent.

On a month-on-month basis, consumer prices increased 0.4 percent in October. Economists had forecast a rise of 0.2 percent.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News

Latest News

Q4 GDP Tracking

by Calculated Risk on 12/09/2022 05:13:00 PM From BofA: The components of PPI that we ...