South Africa: Inflation continues its downward trend in December
Inflation fell to 7.2% in December, easing slightly from Novembers 7.4%. December’s reading marked the lowest inflation rate since May. Looking at the details of the release, prices for housing and utilities grew at a softer rate in December. Additionally, prices for food and non-alcoholic beverages rose at a marginally slower pace compared to the previous month’s reading.
Still, the trend pointed up; annual average inflation ticked up to 6.9% in December (November: 6.8%). Meanwhile, core inflation edged down to 4.9% in December, from the previous month’s 5.0%.
Finally, consumer prices rose 0.37% from the previous month in December, picking up from November’s 0.28% increase.