South African Inflation Remains Stable At 3.2%

(RTTNews) - South Africa's consumer price inflation held steady in February after rising in the previous two months, figures from Statistics South Africa showed on Wednesday.

The consumer price index, or CPI, climbed 3.2 percent year-on-year in February, the same as in the prior month.

Moreover, 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 slightly to 3.4 percent in February from 3.5 percent in January.

Costs for housing and utilities alone grew 4.4 percent in February from last year, and those for food and non-alcoholic beverages increased 2.8 percent. Meanwhile, transport charges were 0.5 percent less expensive.

On a month-on-month basis, consumer prices increased 0.9 percent.