South Africa Inflation Rate Slows To 6.3% in February


Consumer prices in South Africa rose 6.3 percent year-on-year in February of 2017, following a 6.6 percent gain in January, matching market expectations. It was the lowest inflation rate since September of 2016, as prices rose less for food and non-alcoholic beverages and household contents and services.

Year-on-year, cost increased less for: food and non-alcoholic beverages (9.9 percent from 11.4 percent in January), household contents and services (3.4 percent from 4.2 percent), alcoholic beverages and tobacco (2.8 percent from 3.5 percent), clothing and footwear (4.8 percent from 5.1 percent) and miscellaneous goods and services (7.4 percent from percent 7.7 percent).

Additional upward pressure came from: transport (7.2 percent from 6.7 percent), housing and utilities (5.6 percent, the same pace as in January), recreation and culture (3.7 percent, at the same pace as in January) and restaurants and hotels (6.4 percent from 6.2 percent).

On a monthly basis, consumer prices went up 1.1 percent after a 0.6 percent gain in a month earlier. Cost rose faster for miscellaneous goods and services (5 percent from 0.8 percent in January), health (3.8 percent after being flat in the previous month) and continued to rise for food and non-alcoholic beverages (0.7 percent from 1.6 percent) and transport (0.9 percent from 1.5 percent).

The core inflation which excludes prices of food, non-alcoholic beverages, petrol and energy fell to 5.2 percent from 5. percent in the previous month. It was the lowest core inflation since December of 2015.

South Africa Inflation Rate Slows To 6.3% in February


Statistic of South Africa | Deborah Neves | deborah.neves@tradingeconomics.com
3/22/2017 8:29:35 AM