Inflation Drops To 2.7% In June 2012
The annual rate of inflation abated during the month of June, according to statistics released today [Aug 10] by the Department of Statistics. Consumers paid 2.7% more in June 2012 than they did a year ago for the CPI basket of goods and services. This rate of inflation was lower than the 2.9% measured in May 2012.
Between May and June 2012, the average cost of goods and services in the Consumer Price Index remained the same. The all-items index remained at 119.7 index points. This means that the basket of goods and services that cost $100.00 in April 2006 now cost $119.70.
The Health & Personal Care sector was the largest contributor to the twelve-month increase in the Consumer Price Index. The cost of health insurance, standard dental exams and prescribed and over-the-counter medicines increased 8.9%, 4.1% and 3.9%, respectively.
The Fuel & Power and the Food sectors also impacted strongly on the annual rate of inflation, as price shifts in these sectors were 16.2% and 4.2%, respectively.
The full report is below [PDF here] click fullscreen for greater clarity:
Just wait until the effects of the US drought hit the market.