CPI increases to 5.9 percent

The Consumer Price Index (CPI) in February increased to 5.9 percent, ahead of the interest rate announcement, Statistics SA said on Wednesday.

 

 

This rate was 0.5 of a percentage point higher than the corresponding annual rate of 5.4 percent in January 2013.

 

The CPI measures changes in the price level of consumer goods and services purchased by households. On average, prices increased by one percent between January and February 2013.

 

The food and non-alcoholic beverages inflation decreased by 0.6 percent.

 

The transport inflation increased by 1.3 percent between January and February 2013, mainly due to a 41-cents-a-litre increase in the price of petrol.

 

Prices in restaurants and hotels sector increased by 0.3 percent between January and February 2013.

 

Inflation in miscellaneous goods and services increased by 5.4 percent over the same period.

 

Stats SA said this was mainly due to the 9.9 percent increase in health insurance.

 

Provinces which had an annual inflation equal to headline inflation were Northern Cape, KwaZulu-Natal and Gauteng at 5.9 percent.

 

Provinces with an annual inflation rate higher than headline inflation were North West, at 6.4 percent, and Mpumalanga, at 6.1 percent.

 

- Sapa