Year-on-year consumer price inflation less mortgage costs (CPIX) slowed to 4,1% last month from 4,4% in October, Statistics SA (Stats SA) reported on Wednesday.
November’s headline inflation — the increase in the consumer price index (CPI) — declined to 0,4% from 1,5% in October, Stats SA said in a statement.
Food prices were 3,2% higher in November 2003 than the same month a year before, 0,4 of a percentage point more than the corresponding annual rate of 2,8% for October.
November’s 3,2% rate was mainly due to annual increases in the prices of vegetables; milk, cheese and eggs; grain products; fruit and nuts; sugar; fish and other seafood; fats and oils; and the category ”other” food products.
The lower annual CPI rate in November can be explained by decreases in four different price indices, Stats SA said.
The CPI for housing decreased from -4,3% in October to -9,1% in November, that of ”other” products from -3,1% to -5%, that of clothing and footwear from -0,8% to -1,9% and that of transport from -0,8% to -1,6%.
These decreases were partly counteracted by the rising food prices, as well as the CPI for household operation, which increased from 7,6% to 9,8%.
The 4,1% increase in the November CPIX is mainly ascribed to increases in the cost of housing (excluding interest rates on mortgage bonds), food, medical care and health expenses, household operation and education.
The seasonally adjusted rate of decrease of the CPI between October and November this year was 0,5%, while the CPIX increased by 0,6% over the same time. — Sapa