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
The U.S. Centers for Disease Control and Prevention or CDC director, Rochelle Walensky, has initiated a reorganization of the public health agency noting that it failed to reliably meet expectations during the coronavirus pandemic period, reports said. The proposed changes for a reset in the agency are expected to help it respond quicker to new health threats. While reporting financial results for the second quarter on Thursday, department store chain Kohl's Corp. (KSS) slashed its adjusted earnings and sales growth guidance for the full-year 2022. For fiscal 2022, the company now projects adjusted earnings in a range of $2.80 to $3.20 per share on a net... Apple Inc. is planning to hold a launch event on September 7 to unveil its latest iPhone 14 line, Bloomberg reported citing people with knowledge of the matter. The tech major is also expected to roll out its latest version of three Apple Watch models including Series 8. The new products, which also include multiple new versions of Macs, and low and high-end iPads, are likely to reach stores...
Follow RTT