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South Africa Inflation At 10-month Low

South Africa's consumer price inflation slowed for the second straight month in January to its lowest level in ten months, preliminary data from Statistics South Africa showed on Wednesday.

The consumer price index rose 4.0 percent year-on-year following a 4.5 percent increase in December. Economists had expected inflation to climb to 4.3 percent.

The latest inflation rate was the lowest since March 2018, when it was 3.8 percent.

Contributions to annual inflation from the transport and the miscellaneous goods and services components decreased sharply in January.

Excluding food and non-alcoholic beverages, fuel and energy, inflation was 4.4 percent.

On a month-on-month basis, the CPI decreased 0.2 percent in January. Economists had expected a 0.1 percent increase.

The core CPI edged up 0.2 percent from the previous month.

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