South Africa Inflation Rises To 13-month High

(RTTNews) - South Africa's consumer price inflation increased further in October to the highest level in just over a year, figures from Statistics South Africa showed on Wednesday.

The consumer price index, or CPI, climbed 3.6 percent year-on-year in October, faster than the 3.4 percent rise in the prior month. The expected inflation rate was 3.7 percent.

This was the highest inflation rate since September 2024, when prices rose 3.8 percent.

Nonetheless, the inflation rate remained within the Reserve Bank's target range of 3-6 percent.

The core inflation, which excludes prices of non-alcoholic beverages, fuels, and energy, eased somewhat to 3.1 percent in October from 3.2 percent in September.

Costs for food and non-alcoholic beverages alone grew 3.9 percent annually in October. Prices for housing and utilities increased 4.5 percent, and transport charges logged a renewed increase of 1.5 percent.

On a month-on-month basis, consumer prices edged up 0.1 percent.