South Africa Inflation Rate Edges Up in February


South African annual consumer prices accelerated for the third straight month to 5.9 percent in February of 2014, up from 5.8 percent in the previous month, on higher health, fuel and petrol cost.

Year-on-year, food prices rose 5.4 percent from 4.3 percent in January. Transport cost increased by 0.2 percent to an annual rate of 8 percent and cost of miscellaneous goods and services decelerated to 6.2 percent (7 percent in January). 

On a monthly basis, the inflation rate increased to 1.1 percent, 0.4 percentage point higher than in the preceding month. 

Food prices rose 0.5 percent between January and February 2014. The following components in the food and non-alcoholic beverages index increased: bread and cereals (1.8 percent), fish (1.3 percent), oils and fats (1.2 percent), milk, eggs and cheese (0.9 percent), hot beverages (0.4 percent) and sugar, sweets and desserts (0.2 percent). The following components decreased: fruit (-0.7 percent), cold beverages (-0.7 percent), other food (-0.6 percent), vegetables (-0.4 percent) and meat (-0.1 percent).

The transport index increased by 1.5 percent, mainly due to a 39c/litre increase in the price of petrol. The miscellaneous goods and services index increased by 4.7 percent due to an 8.3 percent increase in health insurance. 

The provinces with an annual inflation rate lower than or equal to 5.9 percent were Free State (5.9 percent), Northern Cape (5.8 percent), KwaZulu-Natal (5.8 percent), Western Cape (5.7 percent), North West (5.3 percent) and Mpumalanga (5.3 percent). Limpopo (6.7 percent), Eastern Cape (6.0 percent) and Gauteng (6.0 percent) showed higher price increases.

South Africa Inflation Rate Edges Up in February


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
3/19/2014 9:33:24 AM