Inflation eases slightly in September
Headline consumer inflation slowed to 7,5% in September from 7,6% in August, edging further down from the 13-year high of 7,8% recorded in July.
Statistics South Africa, which released the latest data on Tuesday morning, said one of the factors contributing to the softer inflation was the fuel price.
Fuel prices declined for a second consecutive month, contributing to the softer headline rate.
The monthly change in the consumer price index for September was 0,1%, lower than 0,2% recorded in August.
“For much of this year, inflation was mainly driven by sharp increases in food & non-alcoholic beverages and fuel prices,” Stats SA said in a statement.
“The CPI excluding these two categories registered an annual increase of 4,9%, up from 4,6% in August, indicating that higher inflation has spread beyond these two groups.
“Fuel prices declined by 6,4% between August and September. This slowed the annual rate to 34,1%, which is down from the high of 56,2% reported in July.”
Stats SA said food price inflation also showed signs of softening in September.
“Although annual food & NAB inflation continues to accelerate, monthly price changes were softer in September. Annual food & NAB inflation increased to 11,9% from 11,3% in August. The 0,5% monthly increase, however, was lower than the 1,8% monthly rise recorded in August.”
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