Consumer inflation eases: Stats SA
JOHANNESBURG - Consumer inflation declined last month, Statistics SA said on Tuesday.
The Pretoria-based agency said Consumer Price Inflation (CPI) had come in at 6.4 percent year-on-year in August, down from 6.7 percent in July.
“CPI came in lower than I personally expected and there is now a possibility of an interest rate cut later today ŠTuesdayÆ,” economist Mike Schussler said.
“I know some economists forecast 6.4 percent, but this was a positive for me,” Schussler added.
Statistics SA said headline CPI stood at 0.3 percent on a monthly basis in August compared with 1.1 percent in July.
-Sapa
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