South African Inflation Rate Falls to 5.6% in May


In May of 2013, South African annual inflation rate eased for the first time in five months to 5.6 percent, from 5.9 percent in April, due to a drop in petrol prices.

Whie the food and non-alcoholic beverages index increased to 6.4 percent in May from 6.2 percent in April, transport index declined to 3.7 percent from 6.2 percent,  household contents and services index declined to 3 percent from 3.2 percent. Prices of clothing and footwear were up 2.9 percent and miscellaneous goods and services 7.4 percent.  Costs of housing and utilities and education increased 5.8 and 9 percent, respectively. 

The provinces of Gauteng, Mpumalanga, Free State, Northern Cape, KwaZulu-Natal, Western Cape and Eastern Cape recorded lower inflation rates, while North West and Limpopo registered rates of inflation higher than 5.6 percent.

On a month-over-month basis, prices decreased by 0.3 percent. The index for food and non-alcoholic beverages, housing and utilities were unchanged. Prices of fish, bread and cereals and milk, eggs and cheese went up 1.1 percent, 0.6 percent and 0.3 percent respectively, while costs of fruit, vegetables and meat declined 3.3 percent, 0.8 percent and 0.3 percent, respectively.  The transportation cost decreased by 2.0 percent, mainly due to a 73c/litre decrease in the price of petrol.

South African Inflation Rate Falls to 5.6% in May


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
6/19/2013 11:54:25 AM