Consumer inflation, as measured by the consumer price index , slowed to its lowest level in three months in September, data from Stats SA showed on Wednesday.
CPI slowed to 3% from 3.1% in August in line with economists’ expectations in a Bloomberg poll, while it had increased 0.2% month on month. The main contributors were food and nonalcoholic beverages, housing and utilities, and miscellaneous goods and services. Food and nonalcoholic beverages rose 3.9% year on year while housing and utilities increased 2.8% year on year. Miscellaneous goods and services rose 6.5%.The Bank’s monetary policy committee said in September that it expected headline consumer price inflation to average 3.3% in 2020, 4% in 2021 and 4.4% in 2022.
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