Inflation slows in January 2017

Inflation slows in January 2017

Inflation has slowed to 6.6 percent in January, down from 6.8 percent in December.

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On average, prices increased by 0.6 percent between December 2016 and January 2017.


Efficient Group economist Francois Stofberg says food and non-alcoholic beverages contributed 1.9 percent and housing and utilities contributed 1.4 percent.


Stofberg says this is slightly better than expected, but that inflation remains outside the Reserve Bank's target band of between 3 and 6 percent.


"The Reserve Bank said they expect inflation to average at 6.2 percent in 2017. We're still a bit more optimistic, believing that it can end below 6 percent this year," says Stofberg.

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