According to the South African Reserve Bank data (Data A) consumer pricing has been increasing from January 2017 to date. This complements the Statistics SA data (Data B) noting that annual consumer price inflation was 5,4% in May 2017, up from 5,3% in April 2017. The consumer price index increased by 0,3% month-on-month in May 2017.
- Food and non-alcoholic beverages increased from 1,1 percentage points in April to 1,2 percentage points in May. The index increased by 6,9% year-on-year.
- Transport increased from 0,7 of a percentage point in April to 0,8 of a percentage point in May. The index increased by 5,2% year-on-year.
- Food and non-alcoholic beverages contributed 0,1 of a percentage point in May. The index increased by 0,5% month-on-month.
- Transport contributed 0,2 of a percentage point in May. The index increased by 1,2% month-on-month.
July is Savings month, and the Johannesburg Stock Exchange (JSE) encourages consumers to spend their money wisely. The exchange further encourages people to adjust their lifestyle so that they can contribute a part of their income to a savings scheme. South Africa has one of the worst savings rates in the world, this is getting worse because the cost of living which is constantly increasing. We would like to propose an interview for Mpho Ledwaba, Head of Marketing at the JSE to speak on how consumers can start the culture of saving and investing.
Thabiso.Senatla@hkstrategies.co.za or +27 11 463 2198