South Africa’s consumer price inflation increased further in October to the highest level in just over a year, figures from Statistics South Africa showed on Wednesday.
The consumer price index, or CPI, climbed 3.6 percent year-on-year in October, faster than the 3.4 percent rise in the prior month. The expected inflation rate was 3.7 percent.
This was the highest inflation rate since September 2024, when prices rose 3.8 percent.
Nonetheless, the inflation rate remained within the Reserve Bank’s target range of 3-6 percent.
The core inflation, which excludes prices of non-alcoholic beverages, fuels, and energy, eased somewhat to 3.1 percent in October from 3.2 percent in September.
Costs for food and non-alcoholic beverages alone grew 3.9 percent annually in October. Prices for housing and utilities increased 4.5 percent, and transport charges logged a renewed increase of 1.5 percent.
On a month-on-month basis, consumer prices edged up 0.1 percent.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.