South Africa Inflation Steady At 5.9%

South Africa's consumer price inflation remained stable in April, after accelerating in the previous month, figures from Statistics South Africa showed on Wednesday.

The consumer price index rose 5.9 percent year-on-year in April, same as seen in March. This was in line with economists' expectation.

The main contribution came from prices of food and non-alcoholic beverages, housing and utilities, transport, and miscellaneous goods and services.

Prices for food and non-alcoholic beverages increased 6.0 percent annually in April and the housing and utilities cost rose 4.8 percent.

Prices of transport, and miscellaneous goods and services grew 14.7 percent and 3.8 percent, respectively.

In March, inflation for goods eased to 8.5 percent, while that for services rose to 3.5 percent.

On a month-on-month basis, consumer prices rose 0.6 percent in April. This was in line with economists' expectations.

The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, rose to 3.9 percent in April. Economists had forecast the rate to remain unchanged at 3.8 percent.

On a monthly basis, the core CPI rose 0.4 percent in April, in line with economists' expectation.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
A multi-state listeria outbreak that has killed one and sickened at least 23 others has been linked to Florida -based Big Olaf Creamery brand ice cream, according to the Centers for Disease Control and Prevention or CDC. The outbreak strain has been reported from 10 states, resulting in 22 hospitalizations. One death has been reported from Illinois. Natreve, a premium wellness company, is recalling certain Vegan Protein Powder due to undeclared milk, a known allergen, the U.S. Food and Drug Administration said. The recall involves specific batches of its Vegan Protein Powder French Vanilla Wafer Sundae flavor. The impacted products are stored in 13 oz (10 servings) and 1.47lb (18 servings) white tubs. The Federal Communications Commission or FCC has granted SpaceX Services, Inc. authorization to use its Starlink satellite internet system on vehicles in motion. SpaceX, owned by Elon Musk, is allowed to operate consumer and enterprise Ku-band Earth Stations in Motion or ESIM using frequencies allocated to the fixed satellite service. The approval would help the company to expand its services to
Follow RTT