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BusinessLive reports that consumer inflation dipped as expected in October, thanks in part to smaller fuel price increases and a continued moderation of food inflation.
The consumer price index (CPI) rose 4.8% in October from a year earlier, after a 5.1% increase in September. Compared with a month earlier, consumer inflation rose 0.3% in October, slower than the 0.5% month-on-month increase reported in September. CPI inflation has been within the Bank’s 3%-6% target band since April, thanks in large part to tamer food inflation, which has come down steadily since returning to single digits in February, as a severe drought eased in most parts of the country. The October fuel price increase was also smaller than that in September. The CPI for goods rose 4.1% in October from a year earlier, and the CPI for services was up 5.5% on the year.
- Read this report by Tammy Foyn in full at BusinessLive
- See too, Consumer inflation eases to 4.8%, at Fin24
Get other news reports at the SA Labour News home page