South Africa Inflation Rate at 3-Month Low


South African annual inflation rate slowed for the first time in eight months to 6.3 percent in July of 2014 from 6.6 percent in the previous two months, due to lower transport and food cost.

On a monthly basis, consumer prices accelerated 0.8 percent in July, following a 0.3 percent increase in June. 

The food and non-alcoholic beverages index was unchanged in July 2014. The annual rate was also the same as the corresponding rate of 8.8 percent in June 2014. The following components in the food and non-alcoholic beverages index increased: hot beverages (2.1 percent), milk, eggs and cheese (1.6 percent), other food (1.4 percent), cold beverages (0.8 percent), sugar, sweets and desserts (0.6 percent) and vegetables (0.1 percent). The following components decreased: oils and fats (-1.4 percent), bread and cereals (-1.0 percent), fruit (-1.0 percent), meat (-0.3 percent) and fish (-0.1 percent). 

The alcoholic beverages and tobacco index increased by 1.0 percent between June 2014 and July 2014. The annual rate increased to 5.8 percent in July 2014 from 5.6 percent in June 2014. 

The housing and utilities index increased by 2.1 percent between June 2014 and July 2014, mainly due to an 8.3 percent increase in water and other services and a 6.9 percent increase in electricity and other fuels. The annual rate increased to 5.9 percent in July 2014 from 5.8 percent in June 2014. 

The transport index increased by 0.9 percent between June 2014 and July 2014, mainly due to a 29c/litre increase in the price of petrol. The annual rate decreased to 6.9 percent in July 2014 from 8.6 percent in June 2014. 

The miscellaneous goods and services index increased by 0.4 percent between June 2014 and July 2014. The annual rate increased to 7.1 percent in July 2014 from 6.9 percent in June 2014. 

South Africa Inflation Rate at 3-Month Low


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
8/20/2014 9:22:43 AM