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BL Premium reports that annual consumer inflation accelerated for the second successive month to 5.4% in September, up from 4.8% in August.
While the rate remained comfortably within the SA Reserve Bank’s 3% to 6% target band, it reinforced the recent hawkish language from bank officials regarding inflation risks. Annual core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, eased to a 13-month low of 4.5% in September from 4.8% in the previous month. On a monthly basis, consumer prices rose by 0.6% in September, after a 0.3% increase in August. The fuel index increased for a second consecutive month, rising by 7.6% between August and September. The Stats SA data released on Wednesday showed that food inflation also ticked slightly higher. After cooling for the past five months, the annual rate for food & non-alcoholic beverages inched higher to 8.1% from 8% in August.
- Read the full original of the report in the above regard by Thuletho Zwane at BusinessLive (subscriber access only)
- Read too, Consumer inflation spikes again to 5.4%, at Moneyweb
Get other news reports at the SA Labour News home page