Economic wrap-up for August 2023
Stats SA published 28 statistical releases in the month of August. Here is a monthly rundown of important economic indicators. Consumer and producer inflation continue to cool Inflation figures continue to provide some good news. Remaining on a downward path, consumer headline inflation slowed to its lowest reading in two years. The annual change in read more »
Consumer inflation lowest in two years
Annual consumer inflation slumped to 4,7% in July from 5,4% in June. This is the lowest reading since July 2021, when the rate was 4,6%. Consumer prices increased on average by 0,9% between June 2023 and July 2023. This is up from the monthly rise of 0,2% recorded in both May and June. Transport taps the brakes on read more »
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 slows to 13-month low
Headline consumer inflation cooled for a second consecutive month in May to 6,3% from 6,8% in April. May’s reading is the lowest since April 2022 when the rate was 5,9%. The month-on-month change in the consumer price index (CPI) was 0,2% in May. The annual rate for food and non-alcoholic beverages (NAB) was 11,8%, lower than read more »
Inflation: the most vulnerable are at risk
The groups that are most susceptible to economic hardship are experiencing large increases in the cost of living, according to the latest inflation data. Together with the headline consumer price index (CPI), Stats SA publishes inflation rates for each province, for ten different income groups and for pensioners. The basket for each of these indices read more »
Inflation eases to 11-month low
Annual consumer inflation slowed to 6,8% in April from 7,1% in March. This is the lowest reading since May 2022, when the rate was 6,5%. The monthly change in the consumer price index (CPI) was 0,4% in April 2023. Food and non-alcoholic beverages Annual inflation for food and non-alcoholic beverages eased to 13,9% in April from 14,0% 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 »
Inflation rises for the first time since October
Annual consumer inflation rose for the first time in four months, edging to 7,0% in February from 6,9% in January. Food and non-alcoholic beverages and transport were the main contributors to the inflation rate in February. The consumer price index (CPI) rose by 0,7% between January and February, representing the largest monthly increase since July read more »
Inflation cools to 6,9%
Annual consumer inflation slowed for the third consecutive month, decreasing to 6,9% in January from 7,2% in December. A notable fall in the price of fuel was the biggest factor behind the dip in the headline rate. Food inflation, on the other hand, continues to accelerate. The consumer price index (CPI) declined by 0,1% between 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 »