Inflation Rate lower than expected

Finally some – marginally – good news: South Africa’s headline consumer inflation slowed to 6.3% year-on-year in July, below market expectations of 6.4% and compared with 6.6% in June. However, on a month-on-month basis CPI quickened to 0.8% from 0.3% in June.

Core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, edged higher to 5.7% from 5.6%, and slowed to 0.5% month-on-month compared with 0.6% in June.

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