JOHANNESBURG - South Africa’s headline consumer inflation slowed to 4.4 percent year-on-year in January from 4.7 percent in December, data from Statistics South Africa showed on Wednesday.
On a month-on-month basis, inflation eased to 0.3 percent in January from 0.5 percent in December.
Core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, fell to 4.1 percent year-on-year in January from 4.2 percent in December, while on a month-on-month basis it slowed to 0.2 percent from 0.3 percent previously.
South Africa’s core inflation in November 2017 registered its lowest rate since May 2012, printing at 4.4percent, while the headline inflation consumer price index (CPI) eased from 4.8percent in October to 4.6percent year-on-year last month.
The annual core inflation rate - which excludes the cost of food, non-alcoholic beverages, fuel and energy - declined to 4.4percent last month from 4.5percent in October and below market expectations of 4.5percent.
The core inflation has subsided from a peak of 5.9percent in December last year.