South Africa annual consumer inflation slows to nine-year low

A customer shops at a South African retailer Pick n Pay in Johannesburg, South Africa, April 19,2018. REUTERS/Siphiwe Sibeko

JOHANNESBURG (Reuters) – South Africa’s headline consumer price inflation slowed to 3.6% year-on-year in November, from 3.7% in October, data from Statistics South Africa showed on Wednesday.

The year-on-year CPI reading was the lowest since December 2010, when the rate was 3.5%, the statistics agency said.

On a month-on-month basis, price growth was 0.1%, versus 0.0% in the previous month.

Core inflation, which excludes prices of food, non-alcoholic beverages, petrol and energy, slowed to 3.9% year-on-year in November compared with 4% in October, while on a month-on-month basis was at 0.1%, the same as in the prior month.

Reporting by Olivia Kumwenda-Mtambo; Editing by Toby Chopra

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