JOHANNESBURG - South Africa’s annual consumer inflation ticked up slightly to 3.4 percent in September, from 3.3 percent in August, remaining comfortably within the Reserve Bank’s target range.
Transport and restaurant prices were the biggest drivers of the increase, while food inflation was mixed, with meat prices surging but milk and eggs getting cheaper.
Meat inflation hit 11.7 percent, the highest since 2018, driven by beef, pork and lamb.
In contrast, the cost of milk dropped by just over 2 percent, and eggs fell more than 8 percent compared to a year ago.
Despite the uptick, overall price pressures remain subdued, keeping headline inflation close to the 3 percent lower end of the target range.