Inflation rises, but slower than expected

The annual consumer price inflation was 4.7% in October 2015, up from 4.6% in September 2015, but lower than the 4.9% expected by experts. The consumer price index (CPI) increased by 0.3% month-on-month in October 2015.

The latest statistics show that the annual rate for alcoholic beverages and tobacco fell from 8.7% in September to 7.4% in October. The index for food and non-alcoholic beverages increased by 0.5% month-on-month. The items with the highest monthly rates were oils and fats (2%) and vegetables (1.4%). The index for transport increased by 0.5% month-on-month. In October the CPI for goods increased by 3.7% year-on-year and the CPI for services increased by 5.6% year-on-year.

Provincial annual inflation rates ranged from 3.9% in Mpumalanga to 4.9% in the Western Cape and Free State.

The rand depreciated by more than 20% against the dollar and pound over the last year, while the cost of printed books increased by 50%, which is 10 times the inflation rate. South Africa imports about ZAR 2.5bn worth of books each year, mostly (52%) from the UK.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top