South Africa Inflation Eases In August

South Africa’s inflation eased in August after accelerating in the previous month, figures from Statistics South Africa showed on Wednesday.

The consumer price index rose 3.1 percent year-on-year in August, after a 3.2 percent increase in July. This was in line with economists’ expectation.

In June, inflation was 2.2 percent.

The main contributions to the annual inflation came from food and non-alcoholic beverages, housing and utilities, and miscellaneous goods and services.

Prices for food and non-alcoholic beverages increased by 3.9 percent annually in August and housing and utilities cost rose by 3.1 percent.

Prices of miscellaneous goods and services rose 6.6 percent.

On a month-on-month basis, the consumer price index increased 0.2 percent in August. This was in line with economists’ expectation.

The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, was 3.3 percent in August. Economists had expected a 3.2 percent increase.

On a monthly basis, the core CPI rose 0.2 percent in August, in line with economists’ expectation.

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