South Africa Inflation Rate Edges Up in May

Consumer prices in South Africa went up 4.6 percent year-on-year in May, following a 4.5 percent increase in April, mainly driven by cost of housing and utilities.

Housing and utilities accounted the most for the rise in the CPI (up 5.6 percent). Prices of water and other services recorded the highest increase (up 8.5 percent), followed by electricity and other fuels (up 7 percent) and rents for housing (up 5.3 percent). Additional upward pressure came from prices of miscellaneous goods and services (up 7.4 percent), food and non-alcoholic beverages (up 4.7 percent), alcoholic beverages and tobacco (up 9.7 percent) and education (up 9.3 percent). In contrast, transport prices fell 0.7 percent.

Annual core inflation rate, which excludes prices of food, non-alcoholic beverages, petrol and energy edged up to 5.7 percent from 5.6 percent in April.

On a monthly basis, the inflation rate slowed to 0.3 percent in May from 0.9 percent in April. The food and non-alcoholic beverages index increased 0.6 percent, due to higher prices of fish (2.6 percent), bread and cereals (1.9 percent), other food (1.7 percent), sugar, sweets and desserts (1.3 percent), oils and fats (1.2 percent), cold beverages (0.9 percent), milk, eggs and cheese (0.7 percent) and hot beverages (0.1 percent) while cost of fruit (-4.6 percent) and vegetables (-1.4 percent) decreased. Meanwhile, the transport index increased 0.3 percent. 

South Africa Inflation Rate Edges Up in May

Statistics South Africa | Joana Taborda |
6/17/2015 9:21:52 AM