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Fin24 reports that data from Stats SA on Wednesday showed that consumer inflation in September rose marginally to 5%, from 4.9% recorded in August.
The slight uptick was in line with the expectations of economists and still well within the target range of between 3% and 6% set by the SA Reserve Bank. On a month-on-month basis, the consumer price index increased by 0.2% in September. The main drivers of the price rises were food and non-alcoholic beverages, transport, housing and utilities, the statistics agency indicated. Core inflation, which excludes the prices of food, non-alcoholic drinks, fuel and electricity, remained benign, suggesting there was little demand pressure in an economy that’s slowly recovering from its deepest contraction in at least 27 years.
- Read the full original of the report in the above regard by Lameez Omarjee at Fin24
- Read too, SA inflation rises to four-month high, meets forecasts, at Moneyweb
Get other news reports at the SA Labour News home page