FX.co ★ South African Inflation Eases Slightly To 5.2%

In April, South Africa witnessed a slight easing in consumer price inflation, marking its lowest point in four months, according to data released by Statistics South Africa on Wednesday.

The Consumer Price Index (CPI) recorded a 5.2% year-over-year increase in April, a modest decline from the 5.3% rise observed in March. Economists had anticipated the inflation rate to hold steady at 5.3%.

Notably, the inflation rate continues to fall within the South African Reserve Bank's target range of 3-6%.

Core inflation, which excludes prices of non-alcoholic beverages, fuels, and energy, decreased to 4.6% from 4.9%.

Annual price growth for food and non-alcoholic beverages also decelerated, slowing to 4.7% from the previous month's 5.1%.

Transport charges increased by 5.3% compared to the previous year, down from the 5.7% growth rate recorded in March. Meanwhile, the cost of miscellaneous goods and services saw a 7.2% rise.

On a month-to-month basis, consumer prices edged up by 0.3%.