South Africa Inflation Rate Up to 4-Month High

Consumer prices in South Africa increased by 4.8 percent year-on-year in November of 2015, up from 4.7 percent reported in the previous month and matching market forecasts. Cost of household contents and services rose at a faster pace while transport prices were flat after falling for three straight months.

Year-on-year, prices of household contents and services rose by 3.1 percent percent (from +3 percent), boosted by a 3.6 percent growth in cost of appliances, tableware and equipment (from +3.2 percent in October). Meanwhile, transport prices showed no growth after dropping for three consecutive months, as cost of petrol dropped at a much slower 6.6 percent (from -8 percent in October) while other running costs went up further by 4 percent (from +3.7 percent) and public transport prices increased by 2 percent (from +1.7 percent) Additional upward pressure came from: housing and utilities (+6.4 percent, the same as in October); food and non-alcoholic beverages (+4.8 percent, the same as in October); miscellaneous goods and services (+6.8 percent, from +7 percent in October) and alcoholic beverages and tobacco (+7 percent, from +7.4 percent in October). 

On a monthly basis, consumer prices increased slightly by 0.1 percent, following a 0.1 percent growth in the previous month. While food cost rose further by 0.6 percent (from +0.5 percent in October), transport prices dropped by 0.5 percent (from +0.5 percent).

Annual core inflation rate, which excludes prices of food, non-alcoholic beverages, petrol and energy was 5.1 percent, easing from 5.2 percent in the previous month. The monthly index slowed to 0.1 percent from 0.2 percent in October.

South Africa Inflation Rate Up to 4-Month High

Statistics South Africa | Joana Ferreira |
12/9/2015 8:35:11 AM