South Africa Inflation Rate Slows to 5.9%


South African annual inflation rate eased to 5.9 percent in September from 6.4 percent in August. It is the lowest rate in seven months as food and transport prices slowed.

On a monthly basis, consumer prices were unchanged between August 2014 and September 2014. 

The food and non-alcoholic beverages index was unchanged between August 2014 and September 2014. The annual rate decreased to 8.5 percent in September 2014 from 9.4 percent in August 2014. The following components in the food and non-alcoholic beverages index increased: fish (1.5 percent), milk, eggs and cheese (0.9 percent), vegetables (0.3 percent), sugar, sweets and desserts (0.3 percent) and fruit (0.1 percent). The following components decreased: oils and fats (-1.1 percent), cold beverages (-0.4 percent), bread and cereals (-0.3 percent), meat (-0.2 percent) and other food (-0.2 percent). 

The housing and utilities index increased by 0.7 percent between August 2014 and September 2014, mainly due to a 1.2 percent increase in actual rentals for housing and a 1.1 percent increase in owners’ equivalent rent. The annual rate decreased to 5.8 percent in September 2014 from 5.9 percent in August 2014. 

The household contents and services index increased by 0.4 percent between August 2014 and September 2014, mainly due to a 0.8 percent increase in domestic workers’ wages. The annual rate decreased to 2.9 percent in September 2014 from 3.6 percent in August 2014. 

The transport index decreased by 1.5 percent between August 2014 and September 2014, mainly due to a 67c/litre decrease in the price of petrol. The annual rate decreased to 4.2 percent in September 2014 from 6.1 percent in August 2014. 

The miscellaneous goods and services index decreased by 0.1 percent between August 2014 and September 2014. The annual rate decreased to 6.9 percent in September 2014 from 7.1 percent in August 2014.

The provinces with an annual inflation rate lower than or equal to 5.9 percent were Western Cape (5.9 percent), Gauteng (5.9 percent), Mpumalanga (5.8 percent) and Free State (5.7 percent). The provinces with an annual inflation rate higher than headline inflation were Limpopo (6.6 percent), North West (6.3 percent), Eastern Cape (6.2 percent), KwaZulu-Natal (6.2 percent) and Northern Cape (6.0 percent).

South Africa Inflation Rate Slows to 5.9%


Statistics South Africa | Joana Taborda | joana.taborda@tradingeconomics.com
10/22/2014 9:17:36 AM