Inflation for 2020 was the lowest in 16 years and the second lowest in 51 years
The December 2020 Consumer Price Index (CPI) release concludes the data points for the entire calendar year. The average annual inflation rate for 2020 was 3,3%. This is the lowest annual average rate since 2004 (1,4%) and the second lowest since 1969 (3,0%). One of the reasons for low inflation in 2004, according to the read more »
Consumer inflation dips slightly lower to 3,2%
Annual consumer inflation retreated slightly in November, to 3,2% from 3,3% in October. There was no monthly change in the index. Food and non-alcoholic beverage prices continued to climb, recording an aggregate annual increase of 5,8%, up from 5,4% in October. Food inflation contributed 1,0 percentage point to November’s headline rate of 3,2%. There were read more »
What does government spend money on?
A recent release from Stats SA provides a breakdown of financial data from all 708 institutions in government. This article provides an overview of what government spent money on in 2018/19, with focus on the public service wage bill. South African general government spent R1,79Â trillion in 2018/19, according to the latest Financial statistics of consolidated read more »
Inflation edges up as food and drink prices bite
Annual consumer inflation hit a seven-month high in October, driven largely by rising prices for food and non-alcoholic beverages. Headline inflation was 3,3%, the biggest annual rise since March when the rate was 4,1%. The monthly increase in October was 0,3%, edging up from 0,2% recorded in both September and August. Food and drink inflation read more »
Inflation falls to a three-month low
South Africa’s annual inflation rate was 3,0% in September, lower than the rates recorded in July (3,2%) and August (3,1%). The change in the consumer price index between August 2020 and September 2020 was 0,2%, identical to the reading in the previous month. The alcoholic beverages and tobacco division was the main reason for the read more »
Consumer inflation slightly down in August
Annual CPI inflation pulled back slightly in August, easing to 3,1% from 3,2% in July. The monthly increase in prices was 0,2%. This is slightly lower than the average monthly change of 0,3% over the past year and lower than the 3-month average of 0,4%. Transport was the most significant contributor to the 0,2% monthly read more »
Consumer inflation rises to four-month high
Annual CPI inflation quickened to 3,2% in July from 2,2% in June as lockdown restrictions continued to ease. The monthly increase was 1,3%, the biggest monthly rise since February 2016 when the rate was 1,4%. The monthly move in July was driven largely by fuel prices and municipal tariffs. Motorists felt some pain as the read more »
Baking bad during lockdown
You’ve waited too long. Your friends have tried it, you’ve seen the videos, you’re feeling the FOMO. You roll up your sleeves – it is time to bake your own lockdown bread. The kitchen is ready. The ingredients are all set out. Two cups of boiling water – check! Instant yeast, brown sugar, salt, flour read more »
Inflation rate edges up in June
Annual CPI inflation was 2,2% in June, slightly up from 2,1% in May. The monthly increase was 0,5% – a reversal of the -0,6% recorded between April and May. The dominance of fuel price changes recorded in the previous few months continued in June. Fuel prices increased by 7,5% from May to June, with petrol read more »
Inflation the lowest in almost 15 years
Annual CPI inflation for April reflects the impact of the first month of the COVID-19 lockdown. The rate dropped to 3,0% in April from 4,1% in March, the lowest reading since June 2005 when the rate was 2,8%. Consumer inflation is now at the bottom of the South African Reserve Bank (SARB) target range of read more »