Nolan Wapenaa
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Nolan Wapenaa, Head, Fixed Income @ Anchor Capital
Statistics South Africa (Stats SA) said on Wednesday that the annual consumer price inflation (CPI) dropped to 3.7% in October 2019 from a 4.1% registered in September. Stats SA said this was the lowest annual increase since February 2011.
The agency said that on average, prices were unchanged between September and October. “This means that the drop in the annual rate is mainly the result of increases between September and October 2018, moving out of the 12-month window of year-on-year inflation rate.” A notable increase was the R1-per-litre increase in the fuel price which saw the inland 95 octane price increase to R17.08 per litre in September and in October 2019 the price was lower at R16.21. “The main contributors to the annual increase are food and non-alcoholic beverages with an annual inflation of 3.6 %, housing and utilities with an increase of 4.8% and miscellaneous goods and services at 5.7%.”
Statistics South Africa (Stats SA) said on Wednesday that the annual consumer price inflation (CPI) dropped to 3.7% in October 2019 from a 4.1% registered in September. Stats SA said this was the lowest annual increase since February 2011.
The agency said that on average, prices were unchanged between September and October. “This means that the drop in the annual rate is mainly the result of increases between September and October 2018, moving out of the 12-month window of year-on-year inflation rate.” A notable increase was the R1-per-litre increase in the fuel price which saw the inland 95 octane price increase to R17.08 per litre in September and in October 2019 the price was lower at R16.21. “The main contributors to the annual increase are food and non-alcoholic beverages with an annual inflation of 3.6 %, housing and utilities with an increase of 4.8% and miscellaneous goods and services at 5.7%.”
