Prices
Consumer Prices
The Consumer Price Index (CPI)
Changes in consumer prices are
measured by changes in the Consumer
Price Index (CPI). The CPI is calculated
by Statistics South Africa every month,
based on the prices of a "basket"
of consumer goods and services. The
composition of the basket and the
weighting of the different items is
based on regular surveys of consumer
buying preferences. The base year
for the current series of indices
is 2000.
View
the Total consumer prices (Metropolitan
areas) Index, 2000 = 100 seasonally adjusted
The Inflation Rate
The official inflation rate is measured
as the percentage change in the
CPI for the main metropolitan areas
between the survey month and the
same month the previous year. Often
called "headline CPI",
this is the figure usually used
in negotiating wages and rentals.
View
the Total consumer prices (Metropolitan
areas) 12-Term % change
The CPIX
The CPIX is a particular measure
of prices that is used by government
to set its "inflation target".
The aim of government is to reduce
inflation - that is to stop prices
increasing so fast. The measure
of inflation used for measuring
prices in this case is called the
CPIX. Government's aim is to confine
the increase in the CPIX between
3% and 6% a year. Hitting this target
in 2002 was upset by the fall in
the rand. The CPIX is the CPI excluding
interest rates on mortgage bonds.
It is an average of prices measured
in the metropolitan areas and in
other urban areas as well.
View the latest CPIX at Statistics South Africa.
Statistics South Africa produces
a wide range of price indices for
different uses. For a consumer perspective,
it is also useful to track the index
for food prices. A special price
index is also prepared for five
different expenditure groups, from
very low expenditure to very high
expenditure.
Click here for the latest key indicators
from Statistics South Africa.
Producer
Prices
The Production Price Index (PPI)
The Production Price Index (PPI)
indicates the changes in production
prices of locally produced commodities
(which are locally sold or exported)
and imported commodities. The base
year for the current series of indices
is 2000 PPI statistics are used
by the private sector in the analysis
of comparative business and industry
performance, as well as for contract
price adjustments. The PPI is compiled
from a survey of the prices paid
by samples of manufacturers, exporters
and importers operating in the South
African economy.
View
the Total production prices of goods
for domestic use, Index 2000 = 100 seasonally adjusted.
The annual percentage change in
the PPI is used as an indicator
of inflation trends in the economy.
In many instances, changes in the
PPI are reflected in the CPI after
a time lag. But note that services
are not included in the PPI, while
they are included in the CPI surveys.
View
the Total production prices of goods
for domestic use 12-Term % change.
Latest publication of PPI
from Statistics South Africa.
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