Consumer prices in South Africa rose 6.8 percent year-on-year in December of 2016, following a 6.6 percent increase in November and above market expectations of 6.5 percent. It was the highest inflation rate since February as cost increased at a faster pace for food and non-alcoholic beverages and housing and utilities.
Year-on-year, prices increased more for food and non-alcoholic beverages (+11.7 percent from +11.6 percent in November), housing and utilities (+5.6 percent from +5.4 percent), miscellaneous goods and services (+7.6 percent from percent +7.5 percent), recreation and culture (+7.6 percent from +6 percent), restaurants and hotels (+7.1 percent from +6.4 percent), alcoholic beverages and tobacco (+5.5 percent from +5 percent) and household contents and services (+4 percent from +3.8 percent). By contrast, prices increased less for transport (+5.7 percent from +6.4 percent).
On a monthly basis, consumer prices went up 0.4 percent after a 0.3 percent gain in a month earlier. Cost increased for housing and utilities (+1 percent after being flat in November), rose faster for food and non-alcoholic beverages (+0.8 percent from +0.5 percent) while decreased for transport (-0.4 percent from +1.5 percent).
The core inflation which excludes prices of food, non-alcoholic beverages, petrol and energy went up to 5.9 percent from 5.7 percent in the previous month.
1/18/2017 10:30:14 AM