IMPROVING LIVES THROUGH DATA ECOSYSTEMS

The headline inflation rate was steady at 5,9% in October 2014.  A 2,6% monthly increase in the price of beer was the main driver of the 0,2% change in the headline CPI between September and October.  For the first time, consumers now pay an average of R50 for a six pack of 340ml cans of locally made beer. Wine and spirits also showed notable monthly increases leading the alcoholic beverages index to annual inflation of 6,3% compared to 5,3% in September.

Food inflation hit a seven month low in September at 8%. Six of the nine food indices showed price decreases, with the meat, fruit and ‘other food’ indices showing monthly increases of 0,9%, 1,9% and 1,5% respectively. Chicken prices increased by 1,5% between September and October resulting in a 10,4% annual increase.  Powdered soup increased by 6,6% over the month and 9,2% over the past year.

Hotel prices increased strongly in October, as they have in the preceding two months — a cumulative 4,7% increase. Annual inflation for hotels is 9,3%, higher than the 9,0% recorded this time last year.

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