South Africa Inflation Rate at 12-Month High

Consumer prices in South Africa went up 5.2 percent year-on-year in December of 2015, up from a 4.8 percent rise in the previous month and the biggest increase in a year. Figures came in line with expectations, due to higher cost for food, transport and household contents and services.

Year-on-year, the biggest upward pressure came from housing and utilities (up 6.6 percent after 6.4 percent growth in the previous month), miscellaneous goods and services (up 6.7 percent following 6.8 percent growth in November), food and non-alcoholic beverages (up 5.9 percent from 4.8 percent growth in November), alcoholic beverages and tobacco (6.6 percent increase from 7 percent growth in November) and transport (up 1.9 percent from no growth in November). 

Annual core inflation rate, which excludes prices of food, non-alcoholic beverages, petrol and energy was 5.2 percent, slightly up from 5.1 percent in November.

On a monthly basis, consumer prices grew 0.3 percent in December, accelerating from a 0.1 percent rise in November. Prices of food and non-alcoholic beverages contributed 0.1 of a percentage point to the CPI with prices growing 0.6 percent, mainly due to fruit (prices up 5.5 percent) and vegetables (prices up 3.9 percent). Housing and utilities contributed 0.2 of a percentage point with prices growing 0.8 percent mainly boosted by actual rentals for housing (prices up 1.1 percent) and owners’ equivalent rent (prices up 1.2 percent).

Considering full 2015, average inflation rate was 4.6 percent, lower than 6.1 percent in 2014.

South Africa Inflation Rate at 12-Month High

Statistics South Africa | Joana Taborda |
1/20/2016 9:11:05 AM