South Africa’s CPI slows to 6.3 percent year-on-year in February

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A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo

JOHANNESBURG  – South Africa’s headline consumer inflation slowed to 6.3 percent year-on-year in February from 6.6 percent in January, data from Statistics South Africa showed on Wednesday.

Economists polled by Reuters had forecast a 6.3 percent year-on-year inflation print.

On a month-on-month basis, inflation rose to 1.1 percent from 0.6 percent previously.

Core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, inched lower to 5.2 percent year-on-year in February from 5.5 percent and rose to 1.1 percent on a month-on-month basis from 0.3 percent.

Reuters

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