South Africa’s consumer price inflation eased to an eight month low in February, figures from Statistics South Africa showed on Wednesday.
The consumer price index rose 2.9 percent year-on-year in February, following a 3.2 percent increase in January. Economists had expected a 3.1 percent rise.
The latest inflation was the lowest since June last year, when it was 2.2 percent.
The main contributions to the annual inflation came from food and non- alcoholic beverages, housing and utilities, and miscellaneous goods and services.
Prices for food and non-alcoholic beverages increased by 5.2 percent annually in February and housing and utilities cost rose by 2.6 percent.
Prices of miscellaneous goods and services grew 3.9 percent.
On a month-on-month basis, consumer price grew 0.7 percent in February. Economists had expectation a 0.9 percent rise.
The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, was 2.6 percent in February. Economists had forecast a 2.9 percent increase.
On a monthly basis, the core CPI increased 0.6 percent in February. Economists had forecast a rise of 0.7 percent.
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