Stats SA updates consumer inflation basket
South Africa's statistics agency has updated its consumer inflation basket for the first time since 2022, including items like rosé wine, air fryers and streaming services to reflect changes in spending habits.
Patrick Kelly, head of price statistics at Statistics South Africa, said it was difficult to gauge what impact the update would have on upcoming inflation releases given subtle shifts in the weighting of some items.
Consumer inflation currently sits at the bottom of the central bank's target range, which has allowed it to cut interest rates at its last two meetings. Another rate cut is expected this week.
The update involved adding 71 products to the basket, removing 53 and reorganising 29 through merging, splitting or reclassification, the statistics agency said on Tuesday.
There are now 391 items in the basket, down from 396 previously.
Housing and utilities, food and non-alcoholic beverages, and transport continue to have the biggest weightings in the basket.
Statistics South Africa's Kelly said the weight of the food and non-alcoholic beverages category had risen while it had fallen for housing and utilities, suggesting the overall impact on headline inflation was likely to be muted.
The changes were informed by the results of a 2022/23 household income and expenditure survey.
The survey showed real average annual household income fell to about R204 000 in 2023 from R206 000 in 2015.
It also highlighted persistent racial disparities more than three decades after apartheid ended, with more than 45% of Black African households spending less than around 25 000 annually, showing they experience the worst financial constraints.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
