Consumer Price Index (CPI) y/y shows changes in goods and services prices in South Africa, in the specified month compared to the same month of the previous year. The index reflects price changes from the perspective of households, i.e. end consumers of goods and services.
The index is calculated as a change in the value of goods and services included in a fixed consumer basket. Goods and services which are representative of household spending are included in the consumer basket. The basket is revised from time to time. Currently it includes 12 categories of goods and services, such as food and beverages, clothes, home appliances, transportation and education services, among others. Different weights are given to the goods and services, reflecting related expenditure shares in final consumption expenditure. Weights are adjusted every 4-5 years.
The year-over-year index version evaluates by how much the value has changed as compared to the same month a year ago. Price data can fluctuate greatly between months due to seasonal and calendar changes. Therefore, the year-to-year variation is considered as the most convenient for determining price change trends. A higher than expected reading is considered positive for ZAR quotes, while lower readings are seen as negative.
The chart of the entire available history of the "South Africa Consumer Price Index (CPI) y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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