Consumer prices in South Africa rose 6.1 percent year-on-year in September of 2016, following a 5.9 percent increase in August and below market expectations of 6.2 percent gain. It was the highest figure since June as cost of transport went up at a faster pace.
Year-on-year, cost rose for housing and utilities (+5.4 percent from +5.8 percent in August); food and non-alcoholic beverages (+11.3 percent, the same pace as in August). Also, prices rose at faster pace for transport (+3.5 percent from +2 percent) and miscellaneous goods and services (+7.2 percent from +6.9 percent). Additional upward pressure came form: alcoholic beverage and tobacco (+5.2 percent, the same pace as in August); household contents and services (+4 percent from -0.9 percent).
On a monthly basis, consumer prices increased 0.2 percent after a 0.1 percent decline in a month earlier. Prices of housing and utilities went up by 0.5 percent and cost of food and non-alcoholic beverages rose 0.2 percent, mostly due to a 0.3 percent gain in cost of processed food and a 0.7 percent rise in bread and cereals. In contrast, transport prices edged down 0.1 percent, as petrol cost fell 1.5 percent.
The core index which excludes prices of food, non-alcoholic beverages, petrol and energy increased 5.6 percent year-on-year, following a 5.7 percent rise in August. Month-on-month, prices rose 0.3 from 0.2 percent in the previous month.