South Africa: Inflation hits three-month low in September
Consumer prices increased 0.17% over the previous month in September, mirroring August’s reading. Looking at the details of the release, prices for housing and utilities ticked up somewhat in September, while price pressures for food and non-alcoholic beverages picked up slightly. However, this was offset by moderating transportation price growth.
Inflation inched down 3.0% in September, from August’s 3.1%. September’s reading marked the lowest inflation rate since June. Accordingly, the trend pointed down mildly, with annual average inflation coming in at 3.4% in September (August:3.5%). Lastly, core inflation was steady, coming in at August’s 3.3% in September.