Inflation slows to 6.3 percent
Consumers have been facing food price increases significantly higher than the rate of inflation. Consumers have been facing food price increases significantly higher than the rate of inflation.
Johannesburg – The headline consumer price index slowed
to 6.3 percent in February, down from 6.6 percent in January.
However, CPI gained 1.1 percent month-on-month in
February by 1.1 percent.
Inflation was 6.8 percent in December.
The South African Reserve Bank has a targeted range for
inflation of between 3 and 6 percent.
This is according to Statistics SA, which on Wednesday
released the latest CPI figures.
Read also: How South Africans are dealing with inflation
Food and non alcoholic beverages contributed 1.7
percentage points to the year-on-year inflation figure, while household
contents and services decreased from 0.2 of a percentage point in January to 0.1
of a percentage point in February.
Food and non-alcoholic beverages contributed 0.1 of a
percentage point to February’s figure, as did health and transport, which was
mostly due to an increase in the price of fuel.
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