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BDLive reports that the consumer inflation index (CPI) slowed to 5.9% year-on-year in August, from the 6% reported for July.
CPI increased 0.1% in August from July, Statistics SA indicated. Food inflation is still running high, due to the lagged effects of a devastating drought and weakness in the rand earlier in the year. Food and non-alcoholic beverages inflation was 11.3%, but food inflation rose slightly to 11.6% year-on-year in August from 11.5% in July. Inflation has been outside the Reserve Bank’s 3%-6% target band since the beginning of 2016, and was just within it in July. The 7% rate recorded in February is considered to have been the peak.
- Read this report by BDLive
Get other news reports at the SA Labour News home page