Business

Consumer price inflation rises to 5.5%

Sapa

Statistics South Africa says the consumer price inflation rate accelerated to 5.5% year-on-year in September.

Statistics South Africa says the consumer price inflation rate accelerated to 5.5% year-on-year in September. (Gallo)

This was 0.5 of a percentage point higher than the corresponding annual rate of 5% in August, the agency said in a report.

The CPI measures changes in the price level of consumer goods and services purchased by households.

September's CPI was within the South African Reserve Bank's inflation target range of between 3% and 6%.

The rising inflation rate was influenced by food inflation which increased by 5.8% year-on-year in September from 4.9% in August.

Transport inflation was also high, increasing to an annual rate of 6.6% in September, compared to 4.9% in August.

The petrol price increased by 93 cents a litre in September. – Sapa

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