South Africa’s annual headline inflation edges down to 6% in September 2013

By bne IntelliNews October 23, 2013

South Africa’s annual headline inflation slightly decreased to 6.0% in September after reaching a four-year high of 6.4% in August, Statistics South Africa said. Compared month-on-month, consumer prices increased by 0.5% in September after rising by 0.3% in August.

The sub-groups that contributed most to the monthly inflation in September were the household goods and services, which contributed 1.1ppt, and the food and non-alcoholic beverages and housing and utilities, which contributed 0.8ppt each. The prices of household goods and services rose 3.8% y/y last month, accelerating from 3.0% in August. Food and non-alcoholic beverages climbed 5.9% y/y, slowing from a 7.1% rise in August. The annual inflation rate for housing and utilities decreased 5.4% y/y, the same level as in August.

The annual headline inflation remained within the upper end of the central bank’s 3%-6% target range, and was slightly lower than the predictions of the central bank, which expected inflation to peak at 6.3% in Q3 and to ease afterwards.

Related Articles

Russia's Rosneft sets foot in Mediterranean with $1.125bn Eni deal

Russia's largest oil producer state-controlled Rosneft has acquired 30% in the largest natural gas field in the Mediterranean from Italian Eni, the company announced on October 9. Rosneft that ... more

PetroSA, Rosgeo sign $400mn oil and gas exploration agreement for South Africa

South Africa's national oil company PetroSA and Rosgeo, the geological exploration company of the Russian Federation, have signed an agreement on a $400mn oil and gas development project in South ... more

South Africa’s MTN to invest $350mn in Iranian broadband

South Africa’s MTN said it has agreed, on a non-binding and preliminary basis, to invest an initial $350mn into Iranian fixed broadband provider Iranian Net. The investment will give ... more

Dismiss