South Africa Inflation Rate Stable at 6.6%


South African annual inflation was steady at 6.6 percent in June, after quickening to a 5-year high in May. Lower transport prices were enough to offset a rise in cost of housing and utilities.

The food and non-alcoholic beverages index increased by 0.1 percent between May 2014 and June 2014. The annual rate was the same as the corresponding rate of 8.8 percent in May 2014. The following components in the food and non-alcoholic beverages index increased: hot beverages (2.1 percent), milk, eggs and cheese (1.0 percent), other food (0.6 percent), sugar, sweets and desserts (0.5 percent), bread and cereals (0.4 percent), fish (0.3 percent) and cold beverages (0.3 percent). The following components decreased: fruit (-4.6 percent), vegetables (-1.8 percent) and oils and fats (-0.1 percent). 

The housing and utilities index increased by 0.9 percent between May 2014 and June 2014, mainly due to a 1.5 percent increase in actual rentals for housing and a 1,.3 percent increase in owners’ equivalent rent. The annual rate increased to 5.8 percent in June 2014 from 5.7 percent in May 2014. 

The household contents and services index increased by 1.2 percent between May 2014 and June 2014, mainly due to a 2.3 percent increase in domestic workers’ wages. The annual rate increased to 4.0 percent in June 2014 from 3.7 percent in May 2014. 

The transport index decreased by 0.1 percent between May 2014 and June 2014, mainly due to a 22c/litre decrease in the price of petrol. The annual rate decreased to 8.6 percent in June 2014 from 8.9 percent in May. 

On a monthly basis, consumer prices rose 0.3 percent in June, following a 0.2 percent increase in the previous month.

South Africa Inflation Rate Stable at 6.6%


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
7/23/2014 9:23:39 AM