Consumer inflation slows to 4.6% in July, helped by food, fuel and power prices

BusinessLive reports that consumer inflation slowed much as expected in July, with the consumer price index (CPI) rising 4.6% from a year earlier.

The increase in June had been 5.1%. Moderating food, fuel and energy prices helped a further slowdown in July, keeping it within the Reserve Bank’s 3%-6% target band for the fourth month. Statistics SA’s data showed on Wednesday that food prices in July rose 6.8% from a year earlier, after a 7% increase in June. Fuel prices fell 3.6% in July compared with a year earlier. Prices are expected to rise again in August, by roughly the same amount as July’s reduction.

Read this report by Tammy Foyn in full at BusinessLive

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