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In our continued series on inflation of various products we take a look at the inflation rate of various alcohol types as measured by the Consumer Price Index (CPI) as calculated and published by Statistics South Africa (Stats SA).
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So which alcohol type has the highest rate of inflation in South Africa?
The line chart below shows the inflation rate of Brandy, Whiskey, Red wine and beer. So just which on of these alcohol types experienced the highest rates of inflation (especially in December 2018 in which people surely enjoyed a few more of these drinks than usual during the festive season).
And the alcohol type looked at that has the highest rate of inflation is.. Brandy. Beer was giving Brandy price inflation a run for its money but it saw year on year inflation rates growing considerably less since August 2018. The summary below shows the average rate of inflation over the various alcohol types since December 2017.
Now lets look at the inflation rate of these alcohol types for December 2018:
Another observation to be made is the fact that the inflation rate of all of these types of alcohol is higher in December 2018 that it was a year ago. Especially Whiskey which had an inflation rate of 0.7% in December 2017 and sitting with an inflation rate of 7.1% in December 2018. Red wine inflation was 4.7% in December 2017 and it came in at 6.6% in December 2018. Beer price inflation (while pretty volatile during the course of the year) was at 5.2% in December 2017 and came in at 5.8% in December 2018.
Brandy inflation was at 6.1% in December 2017 and came in at 8.7% in December 2018. It's year on year inflation increased consistently over time. Sharp month on month inflation in alcohol prices can be seen from March 2018 to April 2018. This is due to government increasing "sin taxes", i.e. increasing taxes on alcohol. "Sin tax" increases are announced in February of each year during the budget speech and implemented in April of each year, to coincide with the government's new financial year.
While having a few drinks with friends and family can be fun, it sure is getting ever more expensive to do so.
- Brandy: 8.1%
- Beer: 6.5%
- Red Wine: 6.1%
- Whiskey: 5.1%
Now lets look at the inflation rate of these alcohol types for December 2018:
- Brandy: 8.7%
- Whiskey: 7.1%
- Red Wine: 6.6%
- Beer: 5.8%
Another observation to be made is the fact that the inflation rate of all of these types of alcohol is higher in December 2018 that it was a year ago. Especially Whiskey which had an inflation rate of 0.7% in December 2017 and sitting with an inflation rate of 7.1% in December 2018. Red wine inflation was 4.7% in December 2017 and it came in at 6.6% in December 2018. Beer price inflation (while pretty volatile during the course of the year) was at 5.2% in December 2017 and came in at 5.8% in December 2018.
Brandy inflation was at 6.1% in December 2017 and came in at 8.7% in December 2018. It's year on year inflation increased consistently over time. Sharp month on month inflation in alcohol prices can be seen from March 2018 to April 2018. This is due to government increasing "sin taxes", i.e. increasing taxes on alcohol. "Sin tax" increases are announced in February of each year during the budget speech and implemented in April of each year, to coincide with the government's new financial year.
While having a few drinks with friends and family can be fun, it sure is getting ever more expensive to do so.