/ 24 October 2012

Consumer price inflation rises to 5.5%

Statistics South Africa says the consumer price inflation rate accelerated to 5.5% year-on-year in September.
Statistics South Africa says the consumer price inflation (CPI) fell to 7.2% year-on-year in December, down from 7.4% the previous month. Photo: Supplied

This was 0.5 of a percentage point higher than the corresponding annual rate of 5% in August, the agency said in a report.

The CPI measures changes in the price level of consumer goods and services purchased by households.

September's CPI was within the South African Reserve Bank's inflation target range of between 3% and 6%.

The rising inflation rate was influenced by food inflation which increased by 5.8% year-on-year in September from 4.9% in August.

Transport inflation was also high, increasing to an annual rate of 6.6% in September, compared to 4.9% in August.

The petrol price increased by 93 cents a litre in September. – Sapa