South Africa Inflation Rate Rises to 6.3% in June
Consumer prices in South Africa rose 6.3 percent year-on-year in June of 2016, following a 6.1 percent growth in May. Figures came above market expectation of 6.2 percent increase driven by higher prices of food and non-alcoholic beverages and transport.
7/20/2016 9:57:35 AM
Compared to June 2015, prices increased at a faster 10.8 percent for food and non-alcoholic beverages (+10.5 percent in May), driven mainly by processed food (up 9.2 percent from 8.2 percent). Transport cost rose at a (+3.3 percent from 3.1 percent), due to higher prices of private transport operation (+0.2 percent from -0.3 percent). Housing and utilities went up at the same pace (+6.5 percent from 6.5 percent). In addition, miscellaneous goods and services went up 7.2 percent (+7 percent in April).
Annual core inflation rate, which excludes prices of food, non-alcoholic beverages, petrol and energy was recorded at 5.6 percent, compared to 5.5 percent rise in the previous month.
On a monthly basis, consumer prices rose 0.6 percent, following a 0.2 percent gain in the previous month. Transport prices went up 1.6 percent (+0.6 percent in May), food and non-alcoholic beverages inflation was flat (+0.2 percent) and housing and utilities was up 0.8 percent after showing no growth in May.