South Africa’s consumer price inflation increased unexpectedly in October, figures from Statistics South Africa showed on Wednesday.
The consumer price index rose 7.6 percent year-on-year in October, following a 7.5 percent increase in September. Economists had expected the inflation rate to slow to 7.4 percent.
The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, rose to 5.0 percent in October.
Transport costs surged the most among the main components, by 17.1 percent annually, and prices of food and non-alcoholic beverages grew 12.0 percent.
Housing and utilities costs gained 4.3 percent and those for miscellaneous goods and services increased 4.8 percent.
On a month-on-month basis, consumer prices increased 0.4 percent in October. Economists had forecast a rise of 0.2 percent.
The material has been provided by InstaForex Company – www.instaforex.com
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