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South Africa consumer inflation falls to 15 year low

Christian Fernsby ▼ | July 15, 2020
Growth in South Africa's consumer prices fell to its lowest in more than 15 years as the cost of fuel declined and spending slowed amid the coronavirus lockdown.
South Africa street
Inflation   South Africa street
At 2.1% year on year in May, according to national statistics agency figures published on Wednesday, inflation is also below the lower end of the central bank's target range, 3% to 6%.

Topics: South Africa

Month-on-month, the consumer price index was -0.6%. Lower fuel prices linked to a global glut of crude oil sawe transport costs fall 8.4% on an annual basis. Other consumer items prices dropped expect for food prices, which increased 4.4%.