South Africa Inflation Rate Slows to 5.5% in October
In October of 2013, South African inflation rate eased for the second straight month to 5.5 percent, from 6 percent in October, due to a fall in petrol prices.
11/20/2013 9:16:44 AM
The food and non-alcoholic beverages index increased by 0.9 percent between September and October. The annual rate decreased to 4.3 percent from 5.9 percent. The following components in the food and non-alcoholic beverages index increased: vegetables (2.9 percent), other food (2 percent), meat (1 percent), milk, eggs and cheese (0.5 percent), cold beverages (0.5 percent), bread and cereals (0.4 percent) and fish (0.1 percent). The following components decreased: sugar, sweets and desserts (-0.6 percent), oils and fats (-0.4 percent), fruit (-0.4 percent) and hot beverages (-0.1 percent).
The transport index decreased by 0.3 percent between September and October, mainly due to a 19c/litre decrease in the price of petrol. The annual rate slowed to 6.2 percent from 6.9 percent in the previous month.
The communication index rose by 0.5 percent month-on-month. The annual rate increased to 2.2 percent, up from 1.7 percent in September 2013.
The provinces with an annual inflation rate lower or equal than 5.5 percent were Western Cape (5.5 percent), Northern Cape (5.3 percent), Eastern Cape (5.2 percent), KwaZulu-Natal (5.1 percent), Mpumalanga (5.1 percent) and North West (4.5 percent). The provinces with an annual inflation rate higher than the headline one were Free State (5.9 percent), Limpopo (5.7 percent) and Gauteng (5.6 percent).