South Africa Inflation Rate Hits 18-Month High in July

In July of 2013, South African annual inflation rate climbed to 6.3 percent, from 5.5 percent in June, and 4.9 percent a year earlier, mainly due to a rise in petrol prices.

Year-on-year, cost of transport rose 8.2 percent, from 3.7 percent recorded in June, due to 22.6 percent increase in petrol prices. The index for food and non-alcoholic beverages increased to 6.8 percent in July, the same rate recorded in June. The index for clothing and footwear went up 3.1 percent, from 3 percent in June and cost of miscellaneous goods and services increased 7.6 percent from 7.4 percent in the previous month. Cost of housing and utilities eased to 5.5 percent, from 5.8 percent in June and prices of education were unchanged at 9 percent. 

The provinces of Northern Cape, Limpopo, North West, Western Cape, Mpumalanga and Eastern Cape recorded lower inflation rates, while Free State, Gauteng and KwaZulu-Natal registered rates of inflation higher than 6.3 percent.

On a month-over-month basis, prices jumped 1.1 percent. The index for housing and utilities rose 2.1 percent mainly due to a 9.4 percent increase in water tariffs, a 7.2 percent increase in electricity tariffs and a 6.1 percent increase in assessment rates. The transport index increased by 2.5 percent, mainly due to an 84c/litre increase in the price of petrol. The recreation and culture index decreased by 0.3 percent and cost of food and non-alcoholic beverages was unchanged between June and July of 2013. 

South Africa Inflation Rate Hits 18-Month High in July

Statistics South Africa | Joana Taborda |
8/21/2013 9:40:34 AM