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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

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

South Africa receives another downgrade to junk

Fitch Ratings on April 7 downgraded South Africa to junk status following the removal of Pravin Gordhan as finance minister and the enusing political crisis. Fitch's downgrade to 'BB+' ... more

S&P downgrades South Africa's credit rating to junk after cabinet reshuffle

Standard & Poor’s ratings agency has cut South Africa's sovereign credit rating to 'BB+' from 'BBB-' and the long-term local currency rating to 'BBB-' from 'BBB', both with a negative ... more

Most Read

  1. Siemens considers quitting Russia
    10 days ago
  2. Wildfires hit Croatia and Montenegro’s Adriatic coast
    6 days ago
  3. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    4 days ago
  4. Nato still has a mixed reception in Emerging Europe
    10 days ago
  5. MACRO ADVISER: It's the oil price, stupid
    7 days ago
  1. CHINA RISING: When sleeping giants meet
    13 days ago
  2. Belarus’ retail king Euroopt goes on the road
    19 days ago
  3. STOLYPIN: Russia’s cyber-challenge cuts both ways
    21 days ago
  4. Siemens considers quitting Russia
    10 days ago
  5. COMMENT: Gazprom’s exit from Turkey is a sign of the times
    11 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss