Inflation falls to 4.5% for December
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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