JOHANNESBURG, Aug 19 (Reuters) – South Africa’s headline consumer inflation slowed to 4.3% year on year in July from 5.0% in June, data from the statistics agency showed on Wednesday.
Economists polled by Reuters had expected annual inflation would ease to 4.5%, helped by lower transport costs as fuel prices retreated after a temporary U.S.-Iran truce.
South Africa imports most of its fuel requirements, leaving it exposed to swings in global energy prices since the Iran war started in late February.
Other African countries Nigeria and Ghana also recorded softer inflation readings in July, with Ghana posting its first decrease since March.
In month-on-month terms South Africa’s headline inflation was at 0.2% in July, compared with 0.7% in June.
(Reporting by Sfundo Parakozov;Editing by Alexander Winning)
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