The annual inflation rate slowed to 6,3% in July from the 6,6% registered in the preceding two months. Most municipalities introduce new tariffs in July each year resulting in housing and utilities contributing 0,5 of the 0,8% monthly increase in the CPI.\u00a0Electricity tariffs increased 7,0%, slightly lower than the maximum 7,4% stipulated by NERSA, the energy regulator.\u00a0 Water and assessment rates, which are not regulated, increased more – at 9,2% and 7,2% respectively.<\/p>\n
The petrol price increased by a moderate 29c\/l (2,2%m\/m) in July bringing the annual increase in petrol down to 8,3% from the\u00a0short term peak of 14,3% just two months ago.\u00a0 Last July the annual increase in the petrol price was a massive 22,6%.<\/p>\n
Food inflation appears to be moderating as prices drop from last month in the bread and cereals (-1%),\u00a0meat (-0,3%) and fats and oils (-1,4%)\u00a0categories.\u00a0 The drops are largely as a result of improved harvests of grains (maize and wheat) and oil bearing plants (sunflowers).\u00a0 Maize forms a large part of the feed for cattle and chickens.<\/p>\n
Cigarettes showed a 3,7% monthly spike bringing the annual increase for tobacco products to 7,2%.\u00a0 The increase appears to be a late implementation of increases in excise taxes related to the introduction of new stock.<\/p>\n
Download full publication here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The annual inflation rate slowed to 6,3% in July from the 6,6% registered in the preceding two months. Most municipalities introduce new tariffs in July each year resulting in housing and utilities contributing 0,5 of the 0,8% monthly increase in the CPI.\u00a0Electricity tariffs increased 7,0%, slightly lower than the maximum 7,4% stipulated by NERSA, the read more »<\/a><\/p>\n