Annual CPI inflation was 2,2% in June, slightly up from 2,1% in May. The monthly increase was 0,5% – a reversal of the -0,6% recorded between April and May. The dominance of fuel price changes recorded in the previous few months continued in June.
Fuel prices increased by 7,5% from May to June, with petrol increasing by 9,9% and diesel by 1,9%. Despite the monthly increases, fuel is on average 20,9% cheaper than it was a year ago. For example, motorists paid R16,76 per litre for inland 95-octane petrol in June 2019. A year later, the price was R13,40.1
Annual food and non-alcoholic beverages inflation was 4,2% in June, slightly lower than May’s 4,4%. The monthly rise was 0,3%, the same as the monthly increases recorded in March, April and May.
The following food categories reported annual rates higher than the 4,2% recorded for food and non-alcoholic beverages.
Actual and imputed rentals, which account for 16,8% of the total weight of the CPI basket, were measured in June. This is the first reading for both categories since the beginning of lockdown. Both recorded a monthly increase of 0,1%. The annual rate for actual rentals was 1,8% and imputed rentals 1,6%.
For more information, download the latest Consumer Price Index (CPI) release here.
1 Department of Energy. Comparing prices for petrol, diesel and illuminating paraffin (IP) (click here).
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