South Africa Inflation Rate Slows to 4.8% in October

South Africa's consumer prices rose 4.8 percent year-on-year in October of 2017, easing from a 5.1 percent increase in September and matching market consensus. Prices slowed mostly for transport, food and miscellaneous goods and services.

Year-on-year, prices increased less for: transport (5.4 percent vs 5.6 percent in September); due to lower cost of fuel (10.8 percent vs 12.2 percent) and private transport operation (9.1 percent vs 10.2 percent); food and non-alcoholic beverages (5.3 percent vs 5.5 percent), mainly processed food (3.7 percent vs 4.3 percent); fish (3.1 percent vs 4.4 percent); milk, eggs and cheese (2.7 percent vs 2.8 percent); and miscellaneous goods and services (7.2 percent vs 7.6 percent). Also, cost eased for household contents and equipment (1.8 percent vs 2.1 percent); recreation and culture (1.5 percent vs 2.2 percent); clothing and footwear (1.9 percent vs 2.3 percent); restaurants and hotels (3.2 percent vs 3.4 percent) and health (6.6 percent vs 7.2 percent). In addition, cost fell more for communication (-1.5 percent vs -1.4 percent).

On the other hand, prices advanced faster for housing and utilities (5.1 percent vs 4.9 percent) and alcoholic beverages and tobacco (5.1 percent vs 4.7 percent).

Annual core inflation rate, which excludes cost of food, non-alcoholic beverages, petrol and energy fell to 4.5 percent from 4.6 percent, the lowest rate since July 2012.

On a monthly basis, consumer prices went up 0.3 percent, following a 0.5 percent rise in September and in line with market expectations.

South Africa Inflation Rate Slows to 4.8% in October

Statistics South Africa | Luisa Carvalho |
11/22/2017 10:23:59 AM