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South Africa Inflation Highest In 18 Months

(RTTNews) - South Africa's consumer price inflation accelerated for a second straight month in November to its highest level in one-and-a-half years, data from Statistics South Africa showed on Wednesday.

Inflation accelerated to 5.2 percent in November from 5.1 percent in October. The latest figure was the highest since May 2017, when inflation was 5.4 percent.

Economists had forecast inflation of 5.2 percent.

Core inflation, which excludes prices of items such as food, non-alcoholic beverages, fuel and energy, rose to 4.4 percent from 4.2 percent in the previous two months.

Food prices rose 2.8 percent in November and clothing and footwear prices increased 1.8 percent.

Transport had the biggest price growth of 10.7 percent in November due to higher fuel costs, followed by health that registered 5.1 percent inflation. Communication costs increased 1.4 percent.

In November, the consumer price index increased by 0.2 percent from the previous month, which was slightly less than the 0.3 percent economists had forecast.
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