Thursday 2018-05-24

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INFLATION RATE GOES UP

By Hlengiwe Ndlovu | 2018-05-17

THE inflation rate has increased to 4.8 per cent from four per cent in March, the Central Statistical Office has reported.

“The headline inflation rate in April 2018 (i.e. the annual percentage change in the CPI in April 2018 compared with that of April 2017) for the country is 4.8 per cent. This annual rate of inflation is 0.8 index points higher than the corresponding annual rate of 4.0 per cent observed in March”.

The month on month inflation rate, that is, the percentage change in the CPI in April 2018 compared with that of March 2018 is 3.6 per cent.

The country’s inflation increased due to increasing annual rates reflected in April price indices for housing, water, electricity, gas and other fuels which increased from just 8.1 per cent in March 2018 to 13.3 per cent in April.

Also, actual rentals for housing, and materials for the maintenance and repair of dwelling resulted in the increased index in this category.

The increasing rates were slightly counteracted by decreasing rates of growth in the price indices for food and non-alcoholic beverages which decreased from 0.9 per cent in March to -0.9 per cent in April.

Food, such as vegetables; sugar, jam, honey, chocolate and confectionery and meat largely contributed to the lower index.

Alcoholic beverages, tobacco and narcotics which decreased from 5.7 per cent in March to 4.6 per cent in April. In this category, tobacco largely contributed to the decreased index.

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