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Mix-Ansicht- Inflation in SA runter, ZAR ebenfalls? - CRASH_GURU, 29.09.2004, 12:38
Inflation in SA runter, ZAR ebenfalls?
-->August CPIX up 3.7% vs 4.2% in July
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South Africa's CPIX inflation (headline inflation excluding mortgage costs) was up 3.7% year-on-year (y/y) for metro and other areas in August compared with 4.2% y/y in July, 5.0% y/y in June and 4.4% y/y in May, April and March, 4.8% y/y in February, and 4.2% y/y in January, Statistics South Africa (Stats SA) said on Wednesday.
CPIX was minus 0.2% month-on-month (m/m) in August compared with a 0.3% m/m increase in July.
Headline consumer prices - the 12-month rate of change in the consumer price index (CPI) for metropolitan areas - was up 1.0% y/y in August from a 1.6% y/y increase in July.
The core inflation rate, which excludes volatile foods, municipal rates and monetary policy changes, increased by 4.0% y/y in August compared with 4.8% y/y in July.
The CPIX, which is used by the South African Reserve Bank (SARB) for its inflation target, was expected to rise by 3.8% y/y.
The CPIX has only been calculated back to January 1997. The range of forecasts for CPIX was from 3.5% y/y to 4.1% y/y.
The SARB's inflation target is to keep the y/y rate for CPIX within a range of 3% y/y to 6% y/y.
The last time South Africa experienced y/y deflation at the consumer level was August 1954 when it was 0.3% y/y.
The August headline consumer price index (CPI) for all items was expected to drop marginally to 1.1% y/y. The range of CPI forecasts was from 0.9% y/y to 1.4% y/y.
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