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Johannesburg – SA’s consumer price index (CPI)‚ which the Reserve Bank uses to target inflation‚ was 5.6% year on year in May after a 5.9% y/y increase in April‚ Statistics SA (Stats SA) said on Wednesday.
The inflation rate was expected to have come in at 5.8% year on year‚ according to a survey of leading economists by I-Net Bridge.
Forecasts among the seven economists ranged from 5.7% to 6.2%.
CPI was down 0.3% month on month (m/m) in May from an increase of 0.4% m/m in April.
The annual average consumer inflation rate was 5.6% last year compared with 5.0% in 2011 and 4.3% in 2010.
The food and nonalcoholic beverages index was unchanged between April 2013 and May 2013. The annual rate increased to 6.4% in May 2013 from 6.2% in April 2013.
The following components in the food and nonalcoholic beverages index increased: fish (1.1%)‚ bread and cereals (0.6%)‚ milk‚ eggs and cheese (0.3%)‚ oils and fats (0.3%) and hot beverages (0.2%).
The following components decreased: fruit (-3.3%)‚ vegetables (-0.8%)‚ cold beverages (-0.4%) and meat (-0.3%).
The household contents and services index increased by 0.1% between April 2013 and May 2013. The annual rate decreased to 3.0% in May 2013 from 3.2% in April 2013.
The transport index decreased by 2.0% between April 2013 and May 2013‚ mainly due to a 73c/litre decrease in the price of petrol.
The annual rate decreased to 3.7% in May 2013 from 6.2% in April 2013.
The provinces with an annual inflation rate lower than or equal to headline inflation were Gauteng (5.6%)‚ Mpumalanga (5.6%)‚ Free State (5.5%)‚ Northern Cape (5.4%)‚ KwaZulu-Natal (5.4%)‚ Western Cape (5.1%) and Eastern Cape (4.7%).
The provinces with an annual inflation rate higher than headline inflation were North West (5.8%) and Limpopo (5.8%).
The inflation rate was expected to have come in at 5.8% year on year‚ according to a survey of leading economists by I-Net Bridge.
Forecasts among the seven economists ranged from 5.7% to 6.2%.
CPI was down 0.3% month on month (m/m) in May from an increase of 0.4% m/m in April.
The annual average consumer inflation rate was 5.6% last year compared with 5.0% in 2011 and 4.3% in 2010.
The food and nonalcoholic beverages index was unchanged between April 2013 and May 2013. The annual rate increased to 6.4% in May 2013 from 6.2% in April 2013.
The following components in the food and nonalcoholic beverages index increased: fish (1.1%)‚ bread and cereals (0.6%)‚ milk‚ eggs and cheese (0.3%)‚ oils and fats (0.3%) and hot beverages (0.2%).
The following components decreased: fruit (-3.3%)‚ vegetables (-0.8%)‚ cold beverages (-0.4%) and meat (-0.3%).
The household contents and services index increased by 0.1% between April 2013 and May 2013. The annual rate decreased to 3.0% in May 2013 from 3.2% in April 2013.
The transport index decreased by 2.0% between April 2013 and May 2013‚ mainly due to a 73c/litre decrease in the price of petrol.
The annual rate decreased to 3.7% in May 2013 from 6.2% in April 2013.
The provinces with an annual inflation rate lower than or equal to headline inflation were Gauteng (5.6%)‚ Mpumalanga (5.6%)‚ Free State (5.5%)‚ Northern Cape (5.4%)‚ KwaZulu-Natal (5.4%)‚ Western Cape (5.1%) and Eastern Cape (4.7%).
The provinces with an annual inflation rate higher than headline inflation were North West (5.8%) and Limpopo (5.8%).
