South Africa: Inflation rises in June
Consumer prices increased 0.52% in June over the previous month, swinging from the 0.61% drop seen in May. June’s result was the sharpest increase in prices since February. The figure was largely due to rising prices for housing and utilities. In addition, price pressures for transportation as well as for alcoholic beverages and tobacco rebounded.
Inflation inched up to 2.2% in June, from May’s 2.1%. Meanwhile, the trend pointed down slightly, with annual average inflation coming in at 3.7% in June (May: 3.9%). Lastly, core inflation edged down to 3.0% from May’s 3.1%.