South Africa Inflation Rate Edges Up to 4.7% in October


Consumer prices in South Africa increased by 4.7 percent year-on-year in October of 2015, up from 4.6 percent reported in September and matching market forecasts. Cost of food and household contents and services rose further while transport prices dropped at a slower pace.

Year-on-year, cost of food and non-alcoholic beverages went up by 4.8 percent (from +4.4 percent in September), as prices of unprocessed food grew 4.6 percent (from +3.8 percent). Also, prices of household contents and services rose by 3 percent percent (from +2.7 percent), boosted by a 3.2 percent growth in cost of appliances, tableware and equipment (from +2.3 percent in September). Additional upward pressure came from: housing and utilities (+6.4 percent, the same as in September); miscellaneous goods and services (+7 percent, the same as in September) and alcoholic beverages and tobacco (+7.4 percent, from +8.7 percent in the previous month). By contrast, transport prices fell by 0.6 percent (from -0.8 percent in September), as cost of petrol dropped at a slower 8 percent (from -8.2 percent). 

On a monthly basis, consumer prices increased by 0.3 percent after showing no growth in the previous two months. Transport prices rose by 0.5 percent (-1.6 percent in September), mainly driven by higher petrol prices (+0.1 percent, from -5.3 percent). In addition, food cost rose further by 0.5 percent (+0.1 percent in September).

Annual core inflation rate, which excludes prices of food, non-alcoholic beverages, petrol and energy was 5.2 percent, down from 5.3 percent in the previous month. The monthly index eased to 0.2 percent from 0.4 percent in September.

South Africa Inflation Rate Edges Up to 4.7% in October


Statistics South Africa | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/18/2015 8:50:37 AM