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August inflation higher than expected

sappo-inflasie

South Africa’s consumer inflation rose by 4.3% in August, compared to 4% in July.

This is slightly higher than expected: economists polled by Bloomberg had predicted an increase of 4.2%.

Annual food inflation reached its highest level in 18 months, registering 3.8% in August, Statistics SA reported. This was mostly due to a 8.6% increase in bread and cereal prices – the highest annual inflation reading for bread and cereals since February 2017, when the rate was 12.8%.
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