South Africa inflation rate edges up to 4.8% in AugustStaff Writer | September 21, 2017
Inflation rate in South Africa increased to 4.8% from 4.6% in July which was the lowest since September of 2015 but below market expectations of 4.9%.
Africa Transport prices rose
Year-on-year, prices rose faster for transport (3.9% compared to 1% in July) as fuel cost recovered (5.7% compared to -3.6%) and alcoholic beverages and tobacco (4.3% compared to 3.3%).
On the other hand, a slowdown was seen in cost of food and non-alcoholic beverages (5.7% compared to 6.8%); miscellaneous goods and services (7.5% compared to 7.6%) and recreation and culture (2.4% compared to 3.2%).
Inflation was steady for housing and utilites (4.5%) and education (7%).
Annual core inflation rate, which excludes cost of food, non-alcoholic beverages, petrol and energy fell to 4.6%, the lowest rate since August of 2012 compared to 4.7% in July.
On a monthly basis, consumer prices edged up 0.1%, following a 0.3% rise in July.
Cost increased for alcoholic beverages and tobacco (1.2%) and transport (0.5%) but fell for food (-0.2%). ■