Consumer inflation slows as food prices moderate

Consumer inflation slowed in February‚ as food inflation moderated‚ but remained outside the Reserve Bank’s 3%-6% target range.

The consumer price index (CPI) rose 6.3% in February compared with a year earlier‚ Statistics SA said on Wednesday.

That compares with 6.6% in January.

Food inflation‚ which was expected to fall back into single digits after running rampant last year as a result of a severe drought across SA‚ met those expectations by a whisker. Food and nonalcoholic beverages inflation came in at 9.9% year on year in February — but inflation for food alone was 10%.