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South Africa inflation rate at 5-month low of 6.1%

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Staff writer ▼ | June 23, 2016
South Africa inflation
Africa   Prices increased at a slower 10.5 percent

Consumer prices in South Africa went up 6.1 percent year-on-year in May of 2016, easing from a 6.2 percent rise in April.

Figures came below market expectations of 6.4 percent increase, as food cost rose at a slower pace and petrol prices fell less.

Compared to May 2015, prices increased at a slower 10.5 percent for food and non-alcoholic beverages (+11 percent in April), driven mainly by unprocessed food (up 13.2 percent from 14.1 percent).

Housing and utilities went up at the same pace (+6.5 percent from 6.5 percent). Cost of transport rose at a faster pace (+3.1 percent from 2.7 percent), as petrol prices fell less (-1.4 percetn from -2.3 percent). In addition, miscellaneous goods and services rose 7 percent (+7.1 percent in April).

Annual core inflation rate, which excludes prices of food, non-alcoholic beverages, petrol and energy was recorded at 5.5 percent, the same pace as in April.

On a monthly basis, consumer prices increased 0.2 percent, following a 0.8 percent rise in the previous month.

Transport prices went up 0.6 percent (+2.6 percent in April), food and non-alcoholic beverages rose 0.2 percent (+1.9 percent ) and housing and utilities inflation was flat (+0.1 percent).


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