Consumer inflation edges lower in September
Headline consumer inflation dropped to its lowest level in three months in September.
Stats SA said on Wednesday that CPI was down to 3% from 3.1% in August.
This is at the bottom of the South African Reserve Bank’s target range of between 3% and 6%.
Chief Director for Price Statistics Patrick Kelly says the main contributors to 3,0% annual inflation were food and nonalcoholic beverages, housing and utilities, miscellaneous goods and services.
"Half of the monthly increase was due to the price rise in alcoholic beverages and tobacco division, specifically cigarettes prices increased by 3% month on month pushing the annual rate for tobacco to 6,8%.”
Food and non-alcoholic beverages increased by 3,9% year-on-year while housing and utilities increased by 2,8% year-on-year.Miscellaneous goods and services increased by 6,5%.
"The annual inflation rates for goods and for services were 2,1% and 3,8% respectively. Provincial annual inflation rates ranged from 2,6% in Gauteng and Mpumalanga to 3,6% in Western Cape."
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