CPI eases by 0.4% in December.
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GUEST - ISAAH MHLANGA, Chief Economist and Head of Research, RMB
Annual consumer price inflation pulled back in December a little bit further than expected, easing to 5.1% from 5.5% in November and 5.9% in October. The inflation figure was slightly lower than market expectations of 5.2%
The consumer price index (CPI) was unchanged month-on-month in December. According to Stats Sa, the December release completes the picture for inflation in 2023 with the average CPI levels at 6.0% for the year, in line with expectations. Inflation for the year was lower than 2022’s 6.9% figure, and on the outer limit of the South African Reserve Bank’s target range of 3% to 6%.
Annual consumer price inflation pulled back in December a little bit further than expected, easing to 5.1% from 5.5% in November and 5.9% in October. The inflation figure was slightly lower than market expectations of 5.2%
The consumer price index (CPI) was unchanged month-on-month in December. According to Stats Sa, the December release completes the picture for inflation in 2023 with the average CPI levels at 6.0% for the year, in line with expectations. Inflation for the year was lower than 2022’s 6.9% figure, and on the outer limit of the South African Reserve Bank’s target range of 3% to 6%.
