The CPI is an important factor in determining inflation, but is not the same. The CPI provides the price changes for a basket of goods and services such as daily shopping, clothing, petrol, rent and insurance premiums. Inflation is broader in that it includes house prices, industrial products, shares and gold as they fluctuate in price.
At end-August, the CBS said house prices were nearly 8% dearer than a year earlier, and that industrial sales prices were nearly 3% higher in the period.
The CPI increase was led by higher clothing and fuel prices. Average rent increases came out at 1.5% in July, down from a 1.9% increase a year earlier, the CBS said.