South Africa Inflation Rate Slows to 4.6% in November

Consumer prices in South Africa increased 4.6 percent year-on-year in November of 2017, easing from a 4.8 percent rise in the previous month and missing market expectations of 4.7 percent. Prices rose at a slower pace for food and non-alcoholic beverages and transport.

Year-on-year, prices rose at a softer pace for: food and non-alcoholic beverages (5.2 percent compared to 5.3 percent in October), particularly processed food (3.2 percent compared to 3.7 percent) and meat (14.9 percent compared to 15.5 pecent); transport (4.4 percent compared to 5.4 percent), mainly purchase of vehicles (2.6 percent compared to 2.8 percent) and fuel (7.9 percent compared to 10.8 percent); alcoholic beverages and tobacco (5.0 percent compared to 5.1 percent); clothing and footwear (1.8 percent compared to 1.9 percent); and health (6.4 percent compared to 6.6 percent).

On the other hand, inflation was steady for housing and utilities (at 5.1 percent); miscellaneous goods and services (at 7.2 percent); recreation and culture (at 1.5 percent) and education (at 7.0 percent); while prices went up at a faster pace for household contents and equipment (1.9 percent compared to 1.8 percent) and restaurants and hotels (3.3 percent compared to 3.2 percent).

Annual core inflation rate, which excludes cost of food, non-alcoholic beverages, petrol and energy, fell to 4.4 percent from 4.5 percent. It was the lowest rate since May of 2012.

On a monthly basis, consumer prices went up 0.1 percent, following a 0.3 percent rise in September and missing market expectations of 0.2 percent.

South Africa Inflation Rate Slows to 4.6% in November

Statistics South Africa | Stefanie Moya |
12/13/2017 11:00:25 AM