Statistics South Africa’s newly-released figures show that Consumer Price Index (CPI) for August rose slightly to 4.8% year-on-year, compared with 4.7% in July.
On a month-on-month basis, CPI declined to 0.3% in August from 0.9% in July.
This has kept the consumer price index within the South African Reserve Bank’s target range of CPI of 3 to 6%.
Annual consumer price #inflation was 4,8% in August, slightly up from 4,7% in July. The #CPI increased by 0,3% m/m in August.
Read more here: https://t.co/8vdrZvT6hX #StatsSA pic.twitter.com/aophc5pxIU
— Stats SA (@StatsSA) September 20, 2023
Early this year, the annual Consumer Price Index for February, remained unchanged at 5.7%, from 5.7% in January 2022.
Stats SA said the main contributors to the annual inflation rate came from an increase in food and non-alcoholic beverages, transport, housing and utilities, as well as miscellaneous goods and services.
