South Africa Inflation Rate Slows to 5.8%

South African annual inflation rate eased to 5.8 percent in November of 2014 from 5.9 percent in the previous two months due to lower food and transport cost.

On a monthly basis, consumer prices were flat, following a 0.2 percent increase in the previous period.  

The food and non-alcoholic beverages index increased by 0.6 percent between October 2014 and November 2014. The annual rate decreased to 7.6 percent in November from 7.8 percent in October. The following components increased: fruit (11.2 percent), meat (1.2 percent), hot beverages (1.1 percent), fish (0.8 percent), milk, eggs and cheese (0.7 percent), oils and fats (0.6 percent) and other food (0.5 percent). The following components decreased: cold beverages (-0.6 percent) and vegetables (-0.3 percent).

The transport index decreased by 1.2 percent between October and November, mainly due to a 45c/litre decrease in the price of petrol. The annual rate decreased to 4.2 percent from 4.8 percent.

Eastern Cape (5.7 percent), Northern Cape (5.7 percent), North West (5.7 percent), Free State (5.5 percent) and Mpumalanga (5.5 percent) recorded lower inflation rates. The provinces with an annual inflation rate higher than headline inflation were Limpopo (6.3 percent), Western Cape (6.1 percent), KwaZulu-Natal (6.0 percent) and Gauteng (5.9 percent).

Core inflation rate, which excludes food, non-alcoholic beverages, gasoline and electricity costs rose to 5.8 percent in November from 5.7 percent in the previous month.

South Africa Inflation Rate Slows to 5.8%

Statistics South Africa | Joana Taborda |
12/10/2014 8:48:00 AM