/ 18 January 2000

1999 INFLATION LOWEST IN 30 YEARS

THE rate of consumer inflation averaged 5,2% in 1999, its lowest level since 1969 when it stood at 3%, slowing from 6,9% in 1998, Statistics South Africa said on Tuesday. Stats SA said in a statement that the average rate for core inflation over 1999 was 7,9%, which was slightly higher than 1998’s 7,5% average. Headline CPI rose 2,2% year-on-year in December and 0,3% month-on-month compared with a 1,9% and 0,2% rise in November. Core inflation rose 7,9% year-on-year and 0,1% month-on-month versus 8,1% and 0,4% in November.