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South Africa's CPI rises to 4.5 pct y/y in April

JOHANNESBURG (Reuters) - South Africa's headline consumer inflation quickened to 4.5 percent year-on-year in April from 3.8 percent in March, data from Statistics South Africa showed on Tuesday.

Economists polled by Reuters had expected prices to quicken to 4.7 percent on a year-on-year basis following a 1 percent increase in value-added tax came into effect on April 1.

On a month-on-month basis, inflation quickened to 0.8 percent in April from 0.4 percent in March.

Core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, accelerated at 4.5 percent year-on-year, while on a month-on-month basis it slowed to 0.6 percent from 0.7 percent previously.

(Reporting by Mfuneko Toyana; Editing by James Macharia)

2018-05-23 10:12:51

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