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Annual headline consumer price inflation moderated to 4.5% for December, according to Statistics South Africa.
Annual headline consumer price inflation moderated to 4.5% for December, according to Statistics South Africa.

Inflation falls to 4.5% for December

ECONOMIC NEWS

By Lameez Omarjee - Jan 23rd, 10:04

Annual headline consumer price inflation moderated to 4.5% for December, according to Statistics South Africa.  

This is down 0.7 of a percentage point from the inflation rate of 5.2% in November. Inflation for October was 5.1%.

"On average, prices decreased by 0.2% between November 2018 and December 2018," StatsSA said.

Ahead of the announcement, analysts had estimated that inflation would range between 4.3% and 4.5% on the back of a substantial decline in fuel costs.

In December petrol and diesel prices fell by 184 cents per litre and 145c/l respectively.

Overall consumer inflation is expected to have averaged at 4.6% in 2018, Investec Economist Kamilla Kaplan said in a report ahead of the data release.

"This would be a moderation from the 5.3% y/y in 2017, driven by a persist absence of meaningful demand-led inflationary pressures and limited pass-through effects of a weaker currency," she added.
Fin 24 

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