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Bloomberg reports that SA’s consumer inflation unexpectedly accelerated in October to the highest rate in seven months, driven by food, non-alcoholic beverages, housing and utilities.
Consumer prices rose 3.3% from a year earlier, Statistics SA reported on Wednesday. Prices rose 0.3% in the month. Despite the uptick, the rate remained close to the floor of the SA reserve Bank’s target band of 3% to 6%. Core inflation, which excludes the prices of food, non-alcoholic drinks, fuel and electricity, also quickened in October, to 3.4% from 3.3% in September.
- Read the full original of the report in the above regard by Prinesha Naidoo at Moneyweb
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