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S. Africa Inflation Unexpectedly Eases For Third Month

South Africa's consumer price inflation eased for a third straight month in March to a six-month low, defying expectations for an acceleration, preliminary data from Statistics South Africa showed Wednesday.

The consumer price index climbed 6.1 percent year-on-year after 6.3 percent increase in February. Economists had predicted 6.4 percent inflation.

Headline inflation was the lowest since September last year, when it was at the same level. The figure has been easing since January after peaking at 6.8 percent in December.

The contribution from the food and non-alcoholic beverages component dropped to 1.5 percentage points from 1.7 percentage points. Contributions from transport, education, and miscellaneous items increased.

Compared to the previous month, the CPI rose 0.6 percent in March. Economists had forecast 0.9 percent increase.

by RTTNews Staff Writer

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