Consumer inflation retreats to 5,4%
Annual headline inflation cooled to 5,4% in June from 6,3% in May, sinking below the upper limit of the South African Reserve Bank’s monetary policy target range. The last time inflation was below 6% was in April 2022. The rate in June is the lowest reading in 20 months (since October 2021) when the rate was 5,0%. The read more »
Inflation rises for a second consecutive month as food prices bite
Headline consumer inflation edged higher to 7,1% in March from 7,0% in February and 6,9% in January. The monthly change in the consumer price index (CPI) was 1,0% in March, the most significant monthly rise since July 2022 when it was 1,5%. Food & non-alcoholic beverages and transport were the main drivers behind the annual read more »
2022: A rocky road for product prices
Consumer inflation hit its highest level in 13 years during 2022. The average inflation rate for the year (6,9%) hides the differences in timing and extent of price increases for different product groups. Transport and food & non-alcoholic beverages (NAB) had the biggest impact on overall inflation. Breaking the year down, the headline rate was read more »
Softer fuel prices take the edge off inflation in August
Annual consumer inflation dipped to 7,6% in August from 7,8% in July. The monthly increase in the consumer price index (CPI) was 0,2%, the lowest reading since January 2022 when it was also 0,2%. Fuel prices decreased by 3,8% between July and August, with petrol falling by 5,0% and diesel by 0,9%. This pushed the read more »
Consumer inflation accelerates to 7,8%
Annual consumer inflation reached another 13-year high, increasing to 7,8% in July from 7,4% in June. Transport; food and non-alcoholic beverages (NAB); and housing and utilities continue to place upward pressure on the annual rate. Bread & cereals, oils & fats, fuel and electricity all made a notable impact on this month’s reading. The consumer read more »
Consumer inflation surges to a 13-year high
Annual consumer inflation jumped to 7,4% in June from 6,5% in May, mainly driven by rising transport and food prices. The June rate is the highest reading since May 2009 (8,0%) when the economy was facing the headwind of currency depreciation during the global financial crisis. The Consumer Price Index (CPI) increased by 1,1% between read more »
Consumer inflation jumps to a 5-year high
Annual consumer price inflation quickened to 6,5% in May from 5,9% in April and March, breaking through the upper limit of the South African Reserve Bank’s monetary policy target range. This is the highest reading since January 2017 when the rate was 6,6%. The monthly change in the consumer price index (CPI) was 0,7%. The read more »
Annual consumer inflation holds steady in April
The annual change in the consumer price index (CPI) was 5,9% in April, unchanged from 5,9% in March. The monthly rate decreased to 0,6% from 1,0%. This is the third time in five months that the annual rate was 5,9%, testing the 6% upper limit of the South African Reserve Bank’s monetary policy target range. read more »
Grain-based products record higher prices in February
Annual consumer inflation held steady at 5,7% in February, unchanged from 5,7% in January. Rising food and transport prices put upward pressure on the monthly rate, with the consumer price index (CPI) increasing by 0,6% between January and February. This CPI release is the second to be compiled using the recently updated weights and basket read more »
Consumer inflation softens as fuel prices ease
Headline inflation dipped to 5,7% in January from 5,9% in December, mainly the result of lower fuel prices. The consumer price index (CPI) increased by 0,2% between December and January, compared with a monthly rate of 0,6% in December. This CPI release is the first to be compiled using the recently updated weights and basket read more »