Consumer price inflation increased to 4.3% in August

South Africa’s consumer price inflation (CPI) increased to 4.3% in August 2019 from 4% in July.

CPI also increased by 0.3% month-on-month in August.

Stats SA showed that the main contributors to the 4.3% annual inflation increase were food and non-alcoholic beverages; housing and utilities; and miscellaneous goods and services.

Food and non-alcoholic both increased to 4% year-on-year and contributed 0.7 of a percentage point to the total CPI annual rate of 4.3%.

Housing and utilities increased by 5.3% year-on-year while miscellaneous goods and services increased by 5.8%.

The Reserve Bank is to announce its rate decision this week.

Economist believes the bank will keep rates unchanged.