Consumer price inflation
SA's consumer inflation inches up to 2.2% y/y in June
On a month-on-month basis, the consumer price index was at 0.5% in June from -0.6% in the previous month.
On a month-on-month basis, the consumer price index was at -0.6% in May from a 0.5% decrease the previous month.
The consumer price inflation eased to 4,0% in July 2019 from 4,5% in June 2019, data released by StatsSA on Wednesday showed.
Core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, was at 4.4% year on year in February, unchanged from the rate in January.
Core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, was at 4.4% in November up from 4.2% in October.
StatsSA says that consumer inflation has increased to 4.6% in June from 4.4% in May due to a hike in housing, utilities and transport costs.
Headline annual consumer inflation slowed to 3.8% in March from 4.0% in February, the lowest figure since January 2011, Statistics SA said.
There are currently 56 reported cases of bird flu in the Western Cape six more than was recorded the previous week.
The repo rate has been left unchanged since March last year.
On a month-on-month basis, inflation slowed to 0.2% in June from 0.3% in May.
StatsSA also announced that the consumer price index increased by 0.3% month-on-month in May 2017.
This is the first time in eight months the rate is back within the South African Reserve Bank’s target range of between 3 and 6%.
Economists polled by Reuters had forecast a 5.55% year-on-year inflation print.
In March alone, spending dropped 0.7% compared with the previous month, after being flat in February.
South African inflation accelerated to 6.8% year-on-year in December, beating market expectations.
Stats SA released November's CPI figure of 6.6%, which is a 0.3% increase since October.
The CPI figure is outside the South African Reserve Bank’s target band of 3% and 6%.
Stats SA says consumer price inflation has increased to 6.4% in October from 6.1% in September.
Stats SA says core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy.