South Africa Inflation Rate Climbs to 4-Year High in August

In August of 2013, South African annual inflation rate accelerated to 6.4 percent, the highest rate in four years, due to higher petrol prices. From July to August, cost of petrol increased 32c/litre, after rising 84c/litre in the previous period.

Year-on-year, cost of transport rose 8.7 percent, from 8.2 percent in the preceding month, mainly due to a 19 percent increase in petrol prices. The index for food and non-alcoholic beverages increased 7.1 percent, up from 6.8 percent in July, while cost of housing and utilities eased to 5.4 percent, from 5.5 percent. Prices of education, miscellaneous goods and services and clothing were unchanged at 9 percent, 7.6 percent and 3.1 percent, respectively.

The provinces of KwaZulu-Natal, Western Cape, North West, Mpumalanga and Eastern Cape recorded lower inflation rates, while Limpopo, Northern Cape, Free State and Gauteng recorded rates of inflation higher than 6.4 percent.

On a month-over-month basis, prices slowed to 0.3 percent. The transport index increased the most (1 percent), followed by cost of clothing (0.8 percent), restaurants and hotels (0.6 percent) and miscellaneous goods and services (0.4 percent). Food prices increased 0.3 percent. 

South Africa Inflation Rate Climbs to 4-Year High in August

Statistics South Africa | Joana Taborda |
9/18/2013 9:34:16 AM