South African Inflation Rises To 3.2% In January

(RTTNews) - South Africa's consumer price inflation increased further in January to the highest level in four months, figures from Statistics South Africa showed on Wednesday.

The consumer price index, or CPI, climbed 3.2 percent year-on-year in January, following a 3.0 percent rise in the prior month.

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 slightly to 3.5 percent in January from 3.6 percent in December.

Costs for housing and utilities alone grew 4.5 percent in January from last year, and those for food and non-alcoholic beverages increased 2.3 percent. Meanwhile, transport charges were 0.2 percent less expensive.

On a month-on-month basis, consumer prices increased 0.3 percent.