South Africa’s annual inflation climbs to 3.2%

0
59

South Africa’s annual consumer inflation rate climbed to 3.2 percent in July from 2.2 percent the previous month, driven mainly by transport, food and housing prices, official statistics showed Wednesday.

 

Prices are starting to pick up as the economy gradually re-opens after months of tight restrictions imposed to limit the spread to coronavirus.

Under the hard lockdown, consumer inflation rate in May declined to a 15-year low of 2.1 percent.

READ ALSO:South Africa begins second COVID-19 vaccine trial

The continent’s most industrialised economy which was was already in recession when it was hit by the virus in March, is projected to shrink by at least 7.2 percent in 2020, the deepest slump in 90 years.

With more than 613,000 diagnosed cases, South Africa now has the most number of coronavirus infections on the continent.

Watch Leakblast TV channel from around the world

Thanks for Reading via the most updated news portal

About Leakblast.com

Share your story with us

Advertise With us

Encourage & Support LeakBlast

Feel free to contact us

Call Us:+234(0)9073726403
Get us on Whatsapp: +234(0)8181166425      
Email Us: editors@leakblast.com

SUPPORT LEAKBLAST JOURNALISM OF INTEGRITY AND CREDIBILITY

Good  journalism costs a lot of money.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble Endeavor.

By contributing to LeakBlast, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Support LeakBlast

LEAVE A REPLY

Please enter your comment!
Please enter your name here