South Africa Inflation Slows In June

South Africa Inflation Slows In June

South Africa’s consumer price inflation eased in June, figures from Statistics South Africa showed on Wednesday.

The consumer price index rose 4.9 percent year-on-year in June, following a 5.2 percent increase in March. Economists had expected a 4.8 percent rise.

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

Prices for food and non-alcoholic beverages increased by 6.7 percent annually in June and housing and utilities cost rose by 2.6 percent.

Prices of miscellaneous goods and services, and transport grew by 4.1 percent and 12.3 percent, respectively.

On a month-on-month basis, consumer price grew 0.2 percent in June. This was in line with economists’ expectation.

The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, was 3.2 percent in June. Economists had forecast a 3.1 percent increase.

On a monthly basis, the core CPI increased 0.3 percent in June. Economists had forecast a rise of 0.2 percent.