S.Africa changes CPI weights, electricity doubles

Tue Nov 6, 2012 12:47pm GMT
 

JOHANNESBURG (Reuters) - South Africa has changed the weightings in its consumer price index basket to reflect the latest spending patterns, giving a slightly lower weighting to food, while petrol and electricity weightings will rise, the statistics agency said on Tuesday.

The weighting of electricity and other fuels has doubled to 4.1 percent from 2.1 percent previously, reflecting a steady rise in electricity tariffs from state utility Eskom. Petrol will rise to 5.4 percent from 3.6 percent.

Household contents and services also dropped in weighting, to 4.9 percent from 6.1 percent, Statistics South Africa said.

The agency said the new weights would apply from January 2013.

Analysts said the changes would not make a marked difference to headline inflation, which quickened to 5.5 percent in September.

Stats SA said it would not recalculate previous inflation numbers.

A man walks past electricity pylons as he returns from work in Soweto, outside Johannesburg May 15, 2012. REUTERS/Siphiwe Sibeko

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