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.
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.
9/23/2015 9:24:49 AM