Business
Consumer inflation eases in December─── 13:27 Wed, 18 Jan 2023
Consumer inflation eased to 7.2% in December, down from 7.4% in November and 7.6% in October.
Statistics South Africa released the latest data on Wednesday.
While the softer inflation is good news for most consumers, it remains above the Reserve Bank’s target range of between 3 – 6%.
StatsSA says the main contributors to the annual inflation rate were food and non-alcoholic beverages; housing and utilities; transport; and miscellaneous goods and services.
"Food and non-alcoholic beverages increased by 12.4% year-on-year, and contributed 2.1 percentage points to the total CPI annual rate of 7.2%.
Housing and utilities increased by 4.1% year-on-year, and contributed one percentage point. Transport increased by 13.9% year-on-year, and contributed 2,0 percentage points.”
In December, the annual inflation rate for goods was 10,1%, down from 10.4% in November; and for services it was 4.3%, down from 4.5% in November.
