South Africa June Inflation Rate Steady at 4.5%

The annual inflation rate in South Africa was at 4.5 percent in July 2019, unchanged from the previous month and slightly above market expectations of 4.4 percent. Prices of food & non-alcoholic beverages and housing & utilities rose further while cost of transport eased.

Year-on-year, inflation was steady for miscellaneous goods & services (at 5.4 percent, the same as in May); clothing & footwear (at 1.9 percent) and education (at 6.7 percent). Meantime, prices advanced at a faster pace for food & non-alcoholic beverages (3.7 percent from 3.2 percent in May), namely processed (5.4 percent from 4.8 percent) and unprocessed (1.5 percent from 1.3 percent); housing & utilities (4.9 percent from 4.5 percent); recreation & culture (0.9 percent from 0.4 percent); restaurants & hotels (3.5 percent from 3.2 percent); health (5.3 percent from 5.2 percent); and alcoholic beverages & tobacco (6.1 percent from 5.6 percent). Also, cost of communication fell less (-0.3 percent from -0.5 percent). On the other hand, cost eased for transport (5.5 percent from 7.1 percent), of which fuels (7.4 percent from 11.6 percent); and household contents and services (3.1 percent from 3.3 percent).

Annual core inflation rate, which excludes cost of food, non-alcoholic beverages, fuel and energy, increased to 4.3 percent in June from an over 1-year low of 4.1 percent in May and in line with market consensus.

On a monthly basis, consumer prices went up 0.4 percent, after rising 0.3 percent in the prior month and above market forecasts of 0.3 percent.

South Africa June Inflation Rate Steady at 4.5%

Statistics South Africa | Stefanie Moya |
7/24/2019 8:16:32 AM