South Africa Inflation Climbs To 5.4%, More Than Forecast

(RTTNews) - South Africa's consumer price inflation increased for the second straight month in September, and at a slightly faster-than-expected pace, figures from Statistics South Africa showed on Wednesday.

Consumer price inflation climbed to a three-month high of 5.4 percent in September and 4.8 percent in August. Economists had expected inflation to rise to 5.3 percent.

However, the inflation rate still remained within the Reserve Bank's target range of 3-6 percent.

The core inflation, which excludes prices of non-alcoholic beverages, fuels, and energy, eased to 4.5 percent in September from 4.8 percent in August. The expected rate was 4.7 percent.

Prices for food and non-alcoholic beverages alone grew 8.1 percent in September from last year, and those for housing and utilities increased 5.5 percent.

Costs for miscellaneous goods and services advanced 6.0 percent from last year, and transport charges were 4.2 percent more expensive.

On a month-on-month basis, consumer prices moved up 0.6 percent in September, in line with the forecast. The monthly outcome of core consumer prices was a 0.2 percent gain versus an expected increase of 0.4 percent.