Inflation ticked up to 3.4% in September, according to Statistics South Africa, signalling a continued climb away from the central bank’s ideal 3% mark ahead of next month’s interest rate meeting.
- September’s inflation rose to 3.4%, slightly higher than August’s 3.3%.
- Domestic drivers included housing, utilities, and restaurant price hikes.
- Momentum Investments’ Sanisha Packirisamy cited these as key contributors to the CPI uptick.
- However, a stronger rand and falling global food prices helped ease pressure.
- These opposing forces have kept headline inflation largely under control.
- The data points to a modest but important shift in inflation dynamics.
- It highlights the push and pull between local costs and global market trends.
