CPI inflation edges lower in June
Annual consumer inflation eased to 4,9% in June after recording a 30-month high of 5,2% in May. The monthly increase in the consumer price index (CPI) was 0,2%, up from 0,1% in May but lower than the 0,5% rise recorded between May and June 2020. If annual consumer inflation is recalculated with the exclusion of read more »
CPI inflation edges lower in September
South African annual consumer inflation slowed in September, falling to 4,1% from 4,3% recorded in August. The inflation rate has hovered between 4% and 5% since December last year and has been below 4,5% for the past three months. More significantly, it has remained below the South African Reserve Bank’s (SARB) 6% monetary policy ceiling read more »
South Africa’s CPI reveals how volatile inflation hurts the poorest
Patrick Kelly, Executive Manager for Price Statistics, provides some insights into how inflation affects the most vulnerable. The combined effect of the severe drought and the depreciation of the rand drove annual food inflation to 9,8% in March, its highest level in four years. Periods of high food inflation often spark an outpouring of concern read more »
Inflation quickens for a second month in a row
South Africa’s annual inflation rate was 4,5% in January, higher than that recorded in December (4,0%) and November (3,6%). This places inflation right on the 4,5% midpoint of the South African Reserve Bank’s monetary policy target range. The main contributors to the 4,5% rate were food and non-alcoholic beverages; housing and utilities; transport; and miscellaneous read more »
Inflation dips lower in July
Annual consumer price inflation retreated to 4,0% in July from 4,5% in June. This is the lowest CPI headline rate since January, when it was also 4,0%. A fall in fuel prices and a rise in municipal tariffs were the key price movers during the month. Fuel prices edged lower in July, bringing some relief read more »
Consumer inflation slows for a second consecutive month
The consumer price index (CPI) recorded an annual increase of 5,2% in April, down from 5,3% in March and 5,6% in February. Housing & utilities, miscellaneous goods & services, food & non-alcoholic beverages (NAB) and transport were the main drivers behind the headline rate in April. The monthly change in the CPI was 0,3% in read more »
Consumer inflation cooled in March
Following a two-month upswing, headline inflation softened to 5,3% in March from 5,6% in February. The rate has held its ground between 5% and 6% since September 2023. The monthly change in the consumer price index (CPI) was 0,8% in March. This is lower than the 1,0% increase in February. The biggest movers in March The read more »
Inflation eases for a second consecutive month
Annual consumer price inflation pulled back in December, easing to 5,1% from 5,5% in November and 5,9% in October. The consumer price index (CPI) was unchanged month-on-month in December. Inflation was softer in the second half of 2023 The December release concludes the results for 2023. The average inflation rate for the year was 6,0%, read more »
Consumer inflation slowed in November
Following a three-month upswing, headline consumer inflation cooled to 5,5% in November from 5,9% in October. The monthly change in the consumer price index (CPI) was -0,1%. The decline was mainly driven by a monthly decrease of 5,5% in the fuel price index, which drove the annual rate for fuel lower to 1,8% in November read more »
Consumer inflation accelerates to 5,9%
Annual consumer inflation increased for a third consecutive month in October, verging on the upper limit of the South African Reserve Bank’s inflation target range. The headline rate was 5,9%, up from 5,4% in September. Consumer prices increased on average by 0,9% between September and October, the highest monthly rise in three months. The following read more »