Skip to main content

Sharp drop in consumer inflation

| Economic factors

South Africa's consumer price inflation came out at 4.4% in January 2018, in line with expectations and down from 4.7% in December 2017. This is mainly due to a drop in the fuel price.

The consumer price index (CPI) increased by 0.3% month-on-month (m/m) in January 2018.

Transport decreased from 0.9 of a percentage point in December to 0.6 of a percentage point in January. The index increased by 4.4% year-on-year.

Food and non-alcoholic beverages contributed 0.2 of a percentage point in January. The index increased by 1.3% m/m. 

Transport contributed -0.1 of a percentage point in January. The index decreased by 0.4% m/m.

Miscellaneous goods and services contributed 0.1 of a percentage point in January. The index increased by 0.7% m/m.

In January the CPI for goods increased by 3.7% year-on-year (y/y), down from 4.1% in December. The CPI for services increased by 5,1% y/y, down from 5.3 % in December.

Provincial annual inflation rates ranged from 2.9% in North West to 5.2% in Western Cape.

Related Articles

Official fuel prices for December: margin hikes...

By: Jason Woosey - IOL The Department of Mineral Resources and Energy (DMRE) has announced the official petrol and diesel price adjustments for December.

South Africans predicted to spend R224bn this f...

According to the results from the sixth annual Summer Spending Survey by short-term lender Wonga, South Africans are expected to spend an estimated R224 billion over this year’s festive season.

Grocery budgets: Say goodbye to these foods as ...

By: IOL Business Fried chips, potato salad, baked or roasted potatoes, and stews and curries with potatoes – whichever your favourite, you may have to do without if you have any hope of spending less on groceries in the coming weeks. And don’t p...

Black Friday shoppers spent R4.5bn, with jewell...

By: TimesLive Black Friday 2023 levels reflected tougher economic conditions in South Africa, but sales totalled R4.5bn.

December fuel price outlook is good news for bo...

By: IOL With a week to go until December’s fuel price sums are finalised, the outlook is positive for both petrol and diesel.