Inflation hits 6.3% as prices rise across the board

(iStock)
(iStock)

Johannesburg - Prices increased on average by 0.6% between May 2016 and June 2016, according to data released by Statistics South Africa on Wednesday.

The annual consumer price inflation for June 2016 was 6.3%. This is up from 6.1% reported in May 2016. 

Prices rose across the board. Food and non-alcoholic beverages lifted from 1.6% in the previous month to 1.7%. The index increased by 10.8% from the previous year.

Housing and utilities were up to 0.2%. The increase in transport to 0.2% was mostly due to the 52 cents per litre increase in the petrol price and a 5.1% hike in air fares, the report stated.

In June the consumer price index (CPI) for goods increased by 6.7% from the previous year, up from 6.6% reported in May. This increase is higher than the current 6.1% inflation rate. The CPI for services increased by 5.8% from the previous year, up from 5.7% in May.


ZAR/USD
16.77
(-0.09)
ZAR/GBP
21.15
(-0.12)
ZAR/EUR
18.95
(-0.11)
ZAR/AUD
11.66
(-0.17)
ZAR/JPY
0.16
(-0.09)
Gold
1798.22
(+0.06)
Silver
18.69
(+0.13)
Platinum
824.50
(+0.30)
Brent Crude
43.14
(+2.10)
Palladium
1961.36
(+0.61)
All Share
55417.89
(-0.66)
Top 40
51154.08
(-0.74)
Financial 15
10472.31
(+1.28)
Industrial 25
76134.69
(-1.67)
Resource 10
52483.78
(-0.20)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
I'm not really directly affected
18% - 1943 votes
I am taking a hit, but should be able to recover in the next year
23% - 2542 votes
My finances have been devastated
34% - 3797 votes
It's still too early to know what the full effect will be
25% - 2724 votes
Vote