Business Report Economy

Inflation slows to 6.3 percent

Business Reporter|Published

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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Inflation slows to 6. 3 percent