Inflation Rate lowers down to 6.6%

Annual consumer price inflation was 6.6% in January 2017, down from 6.8% in December 2016. Statistics South Africa announced on Wednesday. The consumer price index increased by 0.6% month-on-month (m/m) in January 2017. Food and non-alcoholic beverages increased from 1.8 percentage points in December to 1.9 percentage points in January. The index increased by 11.4% year-on-year (y/y).

*Transport* increased from 0.9 of a percentage point in December to 1.0 percentage point in January. The index increased by 6.7% y/y.

*Alcoholic beverages and tobacco* decreased from 0.3 of a percentage point in December to 0.2 of a percentage point in January. The index increased by 3.5% y/y.

*Recreation and culture* decreased from 0.3 of a percentage point in December to 0.2 of a percentage point in January. The index increased by 3.7% y/y.

*Restaurants and hotels* decreased from 0.3 of a percentage point in December to 0.2 of a percentage point in January. The index increased by 6.2% y/y.

*Miscellaneous goods and services* decreased from 1.2 percentage points in December to 1.1 percentage points in January. The index increased by 7.7% y/y.

*Food and non-alcoholic beverages* contributed 0.3 of a percentage point in January. The index increased by 1.6% m/m.

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