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South Africa annual inflation rate steady at 4.9%

Staff Writer |
The annual inflation rate in South Africa was at 4.9 percent in September of 2018, unchanged from the previous month and in line with market expectations.

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Cost of food and non-alcoholic beverages rose faster while transport prices slowed.

Year-on-year, prices increased further for food & non-alcoholic beverages (3.9 percent compared to 3.5 percent in August), namely processed food (2.9 percent compared to 1.9 percent); recreation & culture (0.5 percent compared to 0.3 percent); household contents and services (3.0 percent compared to 2.9 percent); restaurant and hotels (4.6 percent compared to 4.0 percent) and health (5.4 percent compared to 5.2 percent).

Meanwhile, cost eased for transport (8.7 percent compared to 9.5 percent), mostly private transport operation (15.2 percent compared to 19.2 percent) and fuel (18.5 percent compared to 23.6); miscellaneous goods and services (5.5 percent compared to 5.6 percent); alcoholic beverages & tobacco (4.2 percent compared to 4.6 percent) and communication (1.1 percent compared to 1.2 percent). Additionally, inflation was steady for housing & utilities (at 5.3 percent, the same as in August); clothing & footwear (1.9 percent) and education (6.7 percent).

Annual core inflation rate, which excludes cost of food, non-alcoholic beverages, petrol and energy, remained unchanged at 4.2 percent in September, the same as in August, matching market consensus. Compared to July, core consumer prices increased to 0.5 percent, after being unchanged in the prior month.

On a monthly basis, consumer prices went up 0.5 percent, after declining 0.1 percent in August and higher than market expectations of a 0.4 percent gain. ■

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