AGRICULTURE NEWS - South Africa’s consumer inflation (CPI) for September was marginally down at 4,1% year-on-year, compared with the 4,3% recorded in August, according to data from Statistics South Africa (Stats SA).
According to Paul Makube, senior agricultural economist at FNB Agribusiness, this figure was comfortably within the South African Reserve Bank’s target range of 3% to 6%.
The product groups that carried the largest weight in the inflation basket, such as food and non-alcoholic beverages, housing and transport, have had the most influence on keeping the headline rate at modest levels, according to a statement by Stats SA.
Prices of food and non-alcoholic beverages increased 3,9% year-on-year, and contributed 0,7 of a percentage point to the total CPI.
Read the full article here on the Caxton publication, Farmer's Weekly.
