South Africa's consumer price inflation slows to 2.9% y/y in February

Supermarket staff off load toilet paper and other essentials after shoppers emptied shelves when the government announced measures to curb coronavirus infections in Hillcrest, South Africa, March 16, 2020. REUTERS/Rogan Ward

JOHANNESBURG (Reuters) - South Africa’s headline consumer price inflation slowed to 2.9% year-on-year in February from 3.2% in January, data from Statistics South Africa showed on Wednesday.

On a month-on-month basis, the CPI rose to 0.7% in February from 0.3% in the previous month.

Core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, was at 2.6% year-on-year in February, from 3.3% previously. On a month-on-month basis core inflation rose to 0.6% from 0.1% previously.

Reporting by Mfuneko Toyana; Editing by Alison Williams