South Africa December Inflation Rate Ticks Up to 4.7%

The consumer price index in South Africa increased 4.7 percent year-on-year in December of 2017, up from a 4.6 percent gain in the prior month and matching market expectations. The slight uptick in inflation rate was mainly driven by higher prices of transport.

Year-on-year, prices advanced faster for transport (6.4 percent vs 4.4 percent in November), amid higher costs in private transport operation (11.9 percent vs 6.9 percent), mostly fuel (14.2 percent vs 7.9 percent) as well as public transport (3.4 percent vs 2.5 percent).

Meanwhile, a slowdown in inflation was seen for: housing and utilities (4.4 percent vs 5.1 percent); food & non-alcoholic beverages (4.8 percent vs 5.2 percent); miscellaneous goods & services (7.1 percent vs 7.2 percent); alcoholic beverages & tobacco (4.9 percent vs 5 percent); household contents & equipment (1.7 percent vs 1.9 percent); recreation & culture (0.4 percent vs 1.5 percent) and restaurants & hotels (3 percent vs 3.3 percent). 

Annual core inflation rate, which excludes cost of food, non-alcoholic beverages, petrol and energy, decreased to 4.2 percent from 4.4 percent in November. It was the lowest rate since December 2011.

On a monthly basis, consumer prices inched up 0.5 percent, following a 0.1 percent increase in Novemebr and in line with market expectations.

South Africa December Inflation Rate Ticks Up to 4.7%

Statistics South Africa | Luisa Carvalho |
1/24/2018 9:13:43 AM