Inflation drops in September

"This is the first month since February that it is below the ceiling of the Reserve Bank's target," Stats SA said.

 

"The 0.5 percent drop in the rate was largely because of a 67c/l drop in the petrol price. This is equivalent to a decrease of almost five percent."

 

The inland price of 93 unleaded petrol was now only 14c more than it was in September 2013.

 

Food prices were unchanged on average in September compared to August, bringing the annual rate down to 8.5 percent compared to the 9,4 percent of August.

 

The prices of fish (1.5 percent), milk, eggs, and cheese (all 0.9 percent), vegetables (0.3 percent), sugar, sweets, and deserts (0.3 percent) and fruit (0.1 percent) all increased.

 

The prices of oils and fats (1.1 percent), cold beverages (0.4 percent), bread and cereals (0.3 percent), meat (0.2 percent) and other food (0.2 percent) all decreased.

 

The price of maize meal declined by 1.3 percent over the course of the month. It has increased by only three percent since September last year.

 

The housing and utilities index increased by 0.7 percent between August and September, mainly due to a 1.2 percent increase in actual rentals for housing and a 1.1 percent increase in owners' equivalent rent.

 

The annual rate decreased to 5.8 percent in September from 5.9 percent in August.

 

 

(File photo: Gallo images)