South Africa Inflation Rate Slows in August
Consumer prices in South Africa rose 4.6 percent year-on-year in August of 2015, easing from a 5 percent increase in July. It is the lowest inflation rate in three months and slightly below market expectations as cost of housing and utilities slowed while transport prices fell.
9/23/2015 9:24:49 AM
Transport prices went down 0.7 percent (+0.8 percent in July), driven by a 7.6 percent drop in petrol cost and a 5.5 percent fall in cost of private transport operation. Prices of housing and utilities rose at a slower 6.3 percent (6.4 percent in July), mainly due to maintenance and repair and water and other services. In addition, prices of food and non-alcoholic beverages increased 4.3 percent, slightly below a 4.4 percent gain in July.
Annual core inflation rate, which excludes prices of food, non-alcoholic beverages, petrol and energy slowed to 5.3 percent from 5.4 percent in July, touching the lowest since February of 2014.
On a monthly basis, consumer prices were flat, after rising 1 percent in July as transport cost fell 1.1 percent, driven by petrol (-3.7 percent), offsetting a 0.8 percent increase in food an non-alcoholic beverages’ cost. It is the lowest monthly rate since January.