Slight uptick in consumer inflation
Headline consumer inflation rose from 4.0% in July to 4.3% in August.
Statistics SA’s Patrick Kelly says the uptick in inflation is mostly down to higher food prices.
“Annual food inflation reached its highest level in 18 months, registering 3,8% in August. Bread and cereal prices increased by 8,6 year on year in August, the biggest annual rise since February 2017 when the rate was 12,8%.”
Economist Francois Stofberg says consumer inflation increased within the expected range.
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“We were expecting an inflation of around 4.2% and it came in at around, not a lot higher then what we were anticipating, it is quite low.”
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