South Africa: Inflation inches up in February
Consumer prices rose 1.0% in February, up from January’s 0.3% increase. According to the Statistical Institute, the acceleration in price pressures chiefly reflected higher prices for miscellaneous goods and services.
Inflation ticked up to 4.6% from January’s 4.5%, thus moving above the midpoint of the Central Bank’s 3.0%–6.0% target band. Similarly, annual average inflation logged 4.2%, matching January’s result, while core inflation inched up to 3.8% (January: +3.7%).