South Africa Inflation Rate Back to 6%


South African annual consumer prices accelerated for the fourth straight month in March of 2014 to a six-month high 6 percent. On a monthly basis, prices advanced 1.3 percent, the fastest pace in five years.

Year-on-year, prices of restaurants and hotels recorded the highest increase (8.3 percent), followed by food (7.2 percent) and transport (6.9 percent).

The food and non-alcoholic beverages index increased by 1.4 percent between February 2014 and March 2014. The following components increased: sugar, sweets and desserts (3.7 percent), vegetables (3.3 percent), fruit (2.1 percent), milk, eggs and cheese (1.9 percent), oils and fats (1.7 percent), bread and cereals (1.2 percent), fish (1.0 percent), meat (0.8 percent), cold beverages (0.7 percent) and other food (0.2 percent). In contrast, cost of hot beverages fell 0.4 p percent. 

The alcoholic beverages and tobacco index increased by 2.0 percent; the housing index rose 0.9 percent, mainly due to a 1.3 percent increase in actual rentals for housing and a 1.4 percent increase in owners’ equivalent rent.  

The transport index advanced 1.6 percent between February and March, mainly due to a 36c/litre increase in the price of petrol and education prices increased sharply by 8.7 percent 

The provinces with an annual inflation rate lower than or equal to 6 percent were Western Cape (6.0 percent), Free State (6.0 percent), Gauteng (6.0 percent), Northern Cape (5.9 percent), North West (5.7 percent) and Mpumalanga (5.7 percent). Limpopo (7.2 percent), Eastern Cape (6.5 percent) and KwaZulu-Natal (6.3 percent) recorded higher inflation rates.

South Africa Inflation Rate Back to 6%


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
4/23/2014 9:33:09 AM