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South Africa Inflation Eases In December

South Africa's consumer price inflation eased in December, figures from Statistics South Africa showed on Wednesday.

The consumer price index rose 3.1 percent year-on-year in December, after a 3.2 percent increase in November. This was in line with economists' expectation.

The main contributions to the annual inflation came from food and non-alcoholic beverages, housing and utilities, and miscellaneous goods and services.

Prices for food and non-alcoholic beverages increased by 6.0 percent annually in December and housing and utilities cost rose by 2.7 percent.

Prices of miscellaneous goods and services rose 7.0 percent.

On a month-on-month basis, consumer price grew 0.2 percent in December, in line with economists' expectation.

The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, was 3.3 percent in December. This was in line with economists' expectation.

On a monthly basis, the core CPI rose 0.2 percent in December, in line with economists' expectation.

In 2020, average annual inflation eased to 3.3 percent from 4.1 percent in 2019.

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