SA inflation accelerates in October as food prices rise
Stats SA data shows that consumer inflation picked up in October to its highest rate since March
25 November 2020 - 10:24
Consumer inflation, as measured by the change in the consumer price index (CPI), accelerated to its highest rate in seven months in October, driven by rising food prices, data from Stats SA showed on Wednesday.
CPI rose to 3.3% year on year in October, from 3% in September, higher than the 3.1% forecast by economists, according to macroeconomics website Trading Economics. In spite of this, economists said this was unlikely to be of much concern to the Reserve Bank, and SA may even see further interest-rate cuts in coming months as the economy battles to escape recession...
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