World Economy

S. Africa CPI Falls

S. Africa  CPI FallsS. Africa  CPI Falls

The annual consumer price inflation was 4.7% in October, up from 4.6% in September, but lower than the 4.9% expected by experts of The Inflation Factory which tracks inflation in real-time using prices of millions of goods sold in e-commerce stores, Fin24 reported. The consumer price index increased by 0.3% month-on-month in October. The latest statistics show that the annual rate for tobacco fell from 8.7% in September to 7.4% in October. The index for food and non-alcoholic beverages increased by 0.5% month-on-month. The items with the highest monthly rates were oils and fats (2%) and vegetables (1.4%). The index for transport increased by 0.5% month-on-month. In October the CPI for goods increased by 3.7% year-on-year and the CPI for services increased by 5.6% year-on-year. Provincial annual inflation rates ranged from 3.9% in Mpumalanga to 4.9% in the Western Cape and Free State. The Inflation Factory pointed out in their review ahead of the latest CPI data that the rand depreciated by more than 20% against the dollar and pound over the last year.