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Fin24 reports that headline consumer price inflation slowed to 3.2% year-on-year in November from 3.3% in October, data from Statistics SA showed on Wednesday.
On a month-on-month basis, the CPI was flat at 0.0% in November, from 0.3% in the previous month. Core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, fell to 3.3% year-on-year in November, compared with a rate of 3.4% in October. On a month-on-month basis, core inflation was also flat at 0.0% from 0.2% previously. Nedbank’s Group Economic Unit said the inflation numbers, while softer, pointed to the beginnings of some price pressure in certain categories, particularly food. The unit expects inflation to remain around 3% for the remainder of the year and to average 3.3% for 2020, “hovering well below the Reserve Bank’s 4.5% target for at least a year.”
- Read the full original of the report in the above regard by Lameez Omarjee at Moneyweb
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