![\"cpi1\"](\"https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2023\/07\/cpi1.jpg\")
<\/a><\/p>\nThe 0,9 of a percentage point drop in headline inflation between May and June is the largest decline since May\u00a02020, when the rate also declined by 0,9 of a percentage point. Of the 12 main categories covered by the consumer price index (CPI), six saw a drop in annual inflation in June 2023, one remained unchanged and five recorded increases. Annual goods inflation dropped to 6,3% in June from 8,0% in May. Services inflation was slightly lower at 4,5% in June compared with 4,6% in May.<\/p>\n
Vegetables, fruit, and sugar, sweets & desserts buck the trend<\/strong><\/p>\n Annual inflation for food and non-alcoholic beverages (NAB) slowed for the third successive month, cooling to 11,0% from a high of 14,0% in March. Most food and NAB components recorded lower inflation rates in June, with the exception of vegetables, fruit, and sugar, sweets & desserts. Annual inflation for sugar, sweets & desserts accelerated from 11,9% to 16,4%. This is the highest reading for this category since June\u00a02017. Notable annual increases were recorded for brown sugar (up 17,4%), white sugar (up 17,1%) and chocolate slabs (up 16,2%).<\/p>\n Prices for oils & fats decreased for the tenth successive month, with the index declining by 9,5% in the 12 months to June. The average price of a 750\u00a0ml bottle of sunflower oil was R35,57 in June\u00a02023, lower than the R43,97 price tag in June\u00a02022.<\/p>\n The annual inflation rate for alcoholic beverages & tobacco increased to 6,1% from 5,9% in May. Wine inflation quickened to 9,4% from May\u2019s reading of 9,1%. Beer inflation accelerated too, rising to 5,5% from 4,7%.<\/p>\n Other notable price changes in June<\/strong><\/p>\n Annual transport inflation tumbled from 7,0% in May to 1,8% in June, dragged lower mainly by softer fuel prices. The fuel index declined by 8,3% in June\u00a02023 compared with June\u00a02022. The monthly change was -3,1%.<\/p>\n The CPI in June incorporates the most recent quarterly survey of housing rents. Actual rents recorded an annual increase of 2,7%, slightly higher than March\u2019s print of 2,5%. The annual rate for imputed rents was 2,9%, up from 2,7% in March. On a quarter-on-quarter basis, imputed rents increased by 1,2% between March\u00a02023 and June\u00a02023. This is the largest quarterly increase since September\u00a02018, when the rate was also 1,2%.<\/p>\n The graphs below show the products that recorded notable price increases in June.<\/p>\n For more information, download the June\u00a02023 CPI statistical release and Excel files with indices and average prices here<\/u><\/a>. The archive is available here<\/a>.<\/p>\n Similar articles are available on the Stats SA website and can be accessed here<\/a>.<\/p>\n For a monthly overview of economic indicators and infographics, catch the latest edition of the Stats Biz newsletter here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Annual headline inflation cooled to 5,4% in June from 6,3% in May, sinking below the upper limit of the South African Reserve Bank\u2019s monetary policy target range. The last time inflation was below 6% was in April\u00a02022. The rate in June is the lowest reading in 20\u00a0months (since October\u00a02021) when the rate was 5,0%. The read more »<\/a><\/p>\n<\/a><\/p>\n