South Africa: July Consumer Price Inflation Drops to 4%

Annual headline consumer price inflation decreased to 4% for July, down from 4,5% in June, according to Stats SA.

This is slightly lower than the projections of analysts, and within the target range of between 3% and 6% set by the SA Reserve Bank.

Ahead of Wednesday's announcement, NKC Economics projected July inflation at 4.3%. Subscribe to Fin24's newsletter here

StatsSA said on Wednesday that the main contributors to the July's annual inflation rate were food and non-alcoholic beverages, and housing and utilities

The rand was trading firmer against the dollar following the announcement. The local currency was at R15.26/$ at 10:04, 0.67% stronger after opening at R15.36 to the greenback.

Source: Fin24

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