July’s inflation declined to 4.3%
The monthly increase in the consumer price index (CPI) was 0.2%, down from 0.7% in June.
In July, South Africa's inflation rate decreased to 4.3%, according to the latest figures from Statistics South Africa (Stats SA). This marked a reduction from 5.0% in June. The primary factors behind this decline were lower housing costs, decreased transportation expenses, and reduced insurance premiums. The Consumer Price Index (CPI) experienced a modest monthly increase of 0.2%, compared to 0.7% in June.
Stats SA attributed the slowdown in inflation to softer prices for food and non-alcoholic beverages (NAB), lower municipal tariff hikes, and a fall in fuel prices. The annual rate for food and NAB fell to 0.9% in July, the lowest level in over 16 years, since June 2010 when South Africa hosted the FIFA World Cup.
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