CPI drops to 2.9% in Feb from 3.2% in Jan - Stats SA

The rate is the lowest since June last year when it stood at 2.2%.

FILE: A shopper fills her trolley with items as she rushes to buy more items during Black Friday in Sandton City on 23 November 2018. Picture: Eyewitness News.

JOHANNESBURG - Stats SA on Wednesday said the annual Consumer Price Inflation (CPI) was lower in February at 2.9% compared to the 3.2% recorded the previous month.

The rate is the lowest since June last year when it stood at 2.2%.

Stats SA has put the lower CPI reading in February down to several contributors including food and non-alcoholic beverages, which increased by 5.2% year on year.

Housing and utilities increased by 2.6% and contributed a 0.6 percentage point.

CPI measures the prices of goods and services consumed by South Africans and is used to calculate the inflation rate for the economy.

The figures released on Wednesday morning reflect the CPI for all urban areas.

Meanwhile, the provincial annual inflation rates were 2.7% in Gauteng and 3.3% in Mpumalanga and the North West.

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