CPI comment from Minerals Council economist André Lourens on CPI
Detailed Breakdown:
South Africa's annual inflation rate slowed for the third straight month in August 2024, easing to
4.4% year-on-year (y-o-y), down from 4.6% in July. This latest figure came in below the Bloomberg
market consensus of 4.5%, matching the lower end of expectations. Core inflation also dipped,
reaching 4.1% y-o-y from July’s 4.3%, which was in line with the lowest Bloomberg estimates.
August's headline rate marks the lowest inflation reading since April 2021, a three-year low.
Additionally, goods inflation eased to 4.4% y-o-y from 4.6% in July, while services inflation slowed
to 4.5% y-o-y after a slight uptick the previous month.
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