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August’s CPI figures decrease to 7.6%

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The country’s annual Consumer Price Index (CPI) for the month of August decreased to 7.6% from 7.8% in July 2022.

Statistics South Africa says month-on-month CPI increased to 0.2%.

It says the main contributors to inflation were food and non-alcoholic beverages, housing, utilities and transport.

Food and non-alcoholic beverages increased by 11.3% year-on-year and contributed 1.9 percentage points to the total CPI annual rate of 7.6%.

Housing and utilities increased by 4.0% year-on-year and contributed 1.0% points. Transport increased by 21.2% year-on-year and contributed 2.9% points.

Miscellaneous goods and services increased by 3.7% year-on-year and contributed 0,6 of a percentage point.

In August, the annual inflation rate for goods was 10,9%, down from 11,5% in July and for services, it was 4.3%, up from 4.2% in July.


Source: SABC news

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