Consumer inflation rises to 6.8% in December
Statistics South Africa has recorded a 6.8% year-on-year increase in the Headline consumer price index in the month of December.
This was represented by a 0.4% month-on-month consumer price index increase in December 2016, compared to November’s the previous month’s 0.3%.
Core inflation was the biggest contributor to the monthly increase with food and non-alcoholic beverages, housing and utilities, and petrol being the hardest hit.
The CPI is a social and economic indicator constructed to measure changes in the general level of prices of consumer goods and services that households acquire, use, or pay for.
According to StatsSA, this is done by measuring the cost of purchasing a fixed basket of consumer goods and services of constant quality and similar characteristics, with the products in the basket being selected to be representative of households’ expenditure during a year or other specified period.
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