Drop in fuel price drives slower CPI
Headline consumer inflation slowed slightly in September to 7.5% from 7.6% in August.
Statistics South Africa says the softer headline rate was mainly thanks to changes in the fuel price.
"Fuel prices declined for a second consecutive month, contributing to the softer headline rate," it said in a statement on Wednesday.
"Fuel prices declined by 6.4% between August and September. This slowed the annual rate to 34.1%, which is down from the high of 56.2% reported in July."
The other main contributors were food and non-alcoholic beverages, which jumped 11.9% year-on-year.
READ: Relief at fuel pumps may be short-lived, AA warns
"Annual food & NAB (non-alcoholic beverages) inflation increased to 11.9% from 11.3% in August. The 0.5% monthly increase, however, was lower than the 1.8% monthly rise recorded in August.
"Bread & cereal and meat inflation showed a similar pattern. The annual rate for bread & cereals accelerated to a 13-year high of 19.3% in September. The monthly rate was 1.3%, softer than the 3.1% reading in August. Annual meat inflation increased from 9.2% to 9.9%, while the monthly reading slowed from 0.7% to 0.5%.”
Housing and utilities increased by 4.2% while transport costs are also soaring. They climbed 17.9% year-on-year.
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