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BusinessLive reports that the consumer price index (CPI) rose 4.6% in June from a year earlier, thanks mainly to rising fuel prices.
While it picked up the pace from May’s 4.4% increase, the acceleration was slightly slower than predicted as expectations were for an increase of 4.8%. Fuel prices, which make up 4.58% of the CPI, increased by 16.3% in June from a year earlier, Statistics SA data showed on Wednesday. That followed a 9.4% increase in May from the previous year. Petrol prices rose by 82c a litre to a new record in June, while diesel prices rose by between 82c a litre and 87c a litre. There is little relief on the horizon for consumers, after further — though much smaller — increases took effect in July. Food inflation, which makes up more than 17% of the index, has slowed dramatically from the double-digit rates last seen in about April last year, and prices for food non-alcoholic beverages were flat in June — from inflation of 3.4% in May.
- Read this report by Tammy Foyn in full at BusinessLive
- Read too, June inflation accelerates at fastest pace in 2018, at Moneyweb
Get other news reports at the SA Labour News home page