Inflation hits 6,6% in May 2014, the highest rate in almost five years (6,8% in July 2009).\u00a0 The monthly increase is a modest 0,2%. The big jump in the annual rate is mainly as a result of a drop of 0,3% in the index in May 2013.\u00a0This drop was mainly a result of a 73c\/l drop in the petrol price and only modest changes in other groups in that month.<\/p>\n
Strong increases continue to be observed in food (excl. non-alcoholic beverages), which has an annual increase of 9,1%. This is the highest annual rate since February 2012. Most types of meat continue to experience inflationary pressures with the group showing an annual increase of 8,2%. The bread and cereals group has an annual rate of 10,1%, similar to the 10,2% recorded last month.\u00a0 Tea (ceylon)\u00a0prices increased by 1,1% from April 2014, leading to an annual increase of 8,5%.<\/p>\n
Providing some relief to consumer was the 3,6% drop in the price of cooking oil from last month. The average price of a two litre bottle of sunflower oil dropped from R36,04 in April to R35,04 in May.<\/p>\n
The price of spirits increased by 1,5% from May 2014, pushing the annual rate to 8%.\u00a0 Spirits were subject to a 12% increase in excise taxes in April, and this increase may still be distilling its way to consumers.<\/p>\n
Download publication\u00a0here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Inflation hits 6,6% in May 2014, the highest rate in almost five years (6,8% in July 2009).\u00a0 The monthly increase is a modest 0,2%. The big jump in the annual rate is mainly as a result of a drop of 0,3% in the index in May 2013.\u00a0This drop was mainly a result of a 73c\/l read more »<\/a><\/p>\n