|
Related Topics |
|
In this update we take a look at South Africa's overall inflation rate for June 2018, as well as break it down per province on an interactive map of South Africa and for 17 months in a row the Western Cape has the highest inflation rate of any of the provinces in South Africa.
|
|
Inflation rate per province per month in 2018
The interactive map below shows the inflation rat per province since the start of 2018. The lighter the colour the lower the rate of inflation. The darker and more intense the colour becomes the higher the inflation rate. And as the graphic shows the Western Cape has the highest inflation rate of any of the provinces for every single month of 2018.
In fact it is not just in 2018 in which the Western Cape has the highest rate of inflation. This trend has been going on for the last 17 months in a row.
Below a summary of the inflation rates per province as at June 2018:
So the inflation rate in the Western Cape is higher than the other provinces. It makes no difference right? Lets paint this scenario. Lets say the average basket of goods and services consumed in each province amounted to R30 000 a month in December 2016. What would those same baskets cost right now, in June 2018? The bar chart below provides the answer to that question.
Below a summary of the inflation rates per province as at June 2018:
- Western Cape: 5.4%
- Gauteng: 4.6%
- Free State: 4.6%
- Headline/Overall inflation in South Africa: 4.6%
- Eastern Cape: 4.3%
- Northern Cape: 4.1%
- KwaZulu-Natal: 3.7%
- Mpumalanga: 3.7%
- Limpopo: 3.6%
- North West: 3.6%
So the inflation rate in the Western Cape is higher than the other provinces. It makes no difference right? Lets paint this scenario. Lets say the average basket of goods and services consumed in each province amounted to R30 000 a month in December 2016. What would those same baskets cost right now, in June 2018? The bar chart below provides the answer to that question.
And it is clear what impact higher levels of inflation in the Western Cape has on the cost of that R30 000 basket in December 2016. That same basket would cost R32 550 in the Western Cape right now. While the province with the lowest levels of inflation over the same period was the North West, in which that R30 000 basket in December 2016 would cost R31 770 right now. That is a R780 a month difference between the Western Cape and North West basket cost increases. That is about R9360 a year that those in the Western Cape would have to spend more than those in the North West to buy the same basket they bought could have in December 2016 ever month now.