Filling your tank costs you more

Filling your tank costs you more

Over the past 12 months, the petrol price has increased by R2,49. This translates to an extra R124,50 to fill a 50 litre tank. The annual inflation rate for petrol is 23%, the highest since December 2011, when it was 26,3%.

This is just one of the factors which led to the annual CPI inflation rate for August 2013 increasing to6,4%, a slight acceleration from the 6,3% recorded for July 2013.  On average, prices increased by 0,3% between July and August 2013 – this is the fourth month in the past 12 with a monthly increase of 0,3%.

Food inflation continues to gain momentum, recording an annual increase of 7,1%.  This increase was driven by the bread and cereals group which showed a 1,1% monthly increase to register 8,6%  annually.  Most of the increase in August was from rice, cake flour and breakfast cereals.  Price increases in margarine, peanut butter and sunflower oil pushed the oils and fats index up by 1,7% from the previous month.

Clothing and footwear prices typically see a seasonal increase in August. Prices in this category increased on average by 0,8% in August 2013, leading the annual clothing inflation rate to 3,1%. This is the highest monthly increase since February 2009 when it was 0,9%.

Household appliances registered a large monthly increase, possibly a result of the weaker Rand. Stove prices were up on average by 1,7% and microwave ovens by 1,6%from July 2013.

Download – CPI Publication