Skip to main content

Inflation hits 6.3% as prices rise across the board

| Economic factors

Prices increased on average by 0.6% between May 2016 and June 2016, according to data released by Statistics South Africa on Wednesday.

The annual consumer price inflation for June 2016 was 6.3%. This is up from 6.1% reported in May 2016. 

Prices rose across the board. Food and non-alcoholic beverages lifted from 1.6% in the previous month to 1.7%. The index increased by 10.8% from the previous year.

Housing and utilities were up to 0.2%. The increase in transport to 0.2% was mostly due to the 52 cents per litre increase in the petrol price and a 5.1% hike in air fares, the report stated.

In June the consumer price index (CPI) for goods increased by 6.7% from the previous year, up from 6.6% reported in May. This increase is higher than the current 6.1% inflation rate. The CPI for services increased by 5.8% from the previous year, up from 5.7% in May.


Pin It

Related Articles

Petrol price earmarked for another hike in May

By: Siphelele Dludla – IOL Business Report THE Automobile Association (AA) has warned of another petrol price hike in May that will push the cost of living even higher for financially-constrained consumers, as inflation also remained sticky above...

Petrol price hike on Wednesday, but some diesel...

By: News24   Petrol will be hiked on Wednesday (03/04/2024), while wholesale diesel prices are mixed.  

SPAR shares tips on how to lighten the financia...

For many, Easter is a time of celebration and tradition, marked by gatherings with loved ones and delicious meals. However, the financial strain brought on by the increased cost of living may require families to adjust their usual celebrations, wh...

Reprieve for consumers at till as prices tick m...

By: Given Majola - IOL Business Consumers got a reprieve at the till this month as the cost of the average household food basket showed a marginal increase.

SA consumers feel the big squeeze: 99% have cha...

According to NIQ, 44% of South African consumers feel they are in a worse financial position this year compared to a year ago.