MBOMBELA – The city has recorded the lowest inflation rate among the country’s 13 major urban areas in May. This according to data released by Statistics South Africa. The most recent data available is that of May this year.
It shows the inflation rate in Mpumalanga has increased, but it is still below national headline inflation. According to data released by Statistics South Africa, inflation in the province saw an increase of 0,6 percentage points between April and May – the latest month for which data is available.
The comparative year-on-year percentage change in the latest consumer price index (CPI) figures show that only the inflation rates experienced in the Northern Cape and North West (both with 6,4 per cent) were lower than Mpumalanga’s.
With 6,5 per cent, Mpumalanga’s inflation rate was slightly lower than the national headline inflation rate of 6,6 per cent. Yet, it was higher than the upper limit of the inflation target of six per cent, which Mbombela achieved.
The national headline CPI for all urban areas is a percentage point higher than the corresponding annual rate of 6,1 per cent in April. The biggest contributors to the inflation in the province were the food and non-alcoholic beverages index which accounted for 29,5 per cent of the average price increase in Mpumalanga, followed by the transport index with a 19,3 per cent share.
Next was the housing and utilities index with a contribution of 18,8 per cent followed by the miscellaneous goods and services index with a contribution of 13,8 per cent. Mpumalanga’s inflation rate was lower than the national inflation rate for the 12th consecutive month and above the upper limit of the inflation- target zone for the first time in 14 months.
Among the 12 group indices, the annual inflation rate of transport (8,9 per cent), food and non-alcoholic beverages (8,8 per cent), education 8,7 per cent), restaurants and hotels (8,3 per cent) as well as miscellaneous goods and services (6,8 per cent) were higher than the average national rate of 6,6 per cent.
