South Africa Inflation Rises To 10-Month High

South Africa's consumer price inflation increased further in July to the highest level in nearly a year, figures from Statistics South Africa showed on Wednesday.

The consumer price index, or CPI, climbed 3.5 percent year-on-year in July, following a 3.0 percent rise in the prior month.

Further, this was the highest inflation since September 2024, when prices rose 3.8 percent.

Nonetheless, the inflation rate remained within the Reserve Bank's target range of 3-6 percent.

The core inflation, which excludes prices of non-alcoholic beverages, fuels, and energy, rose slightly to 3.0 percent in July from 2.9 percent in June.

Costs for food and non-alcoholic beverages alone grew 5.7 percent in July from last year, and those for housing and utilities increased 4.3 percent. Meanwhile, transport charges were 1.7 percent less expensive.

On a month-on-month basis, consumer prices increased 0.9 percent.

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