Consumer inflation unchanged in February

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South Africa's President Cyril Ramaphosa

JOHANNESBURG – Annual consumer price inflation reached 5.7% in February, unchanged from 5.7% in January.

Still, food and transport prices saw big increases last month. With diesel and petrol prices up by a third over the past year, transport prices increased by 14.3% year-on-year.

Statistics SA recorded large monthly price increases for air fares (up by 7.3%) and car rental (up by 15%). Food and non-alcoholic beverages increased by 6.4% year-on-year, from 5.7% in January and 5.5% in December. Maize meal, white bread and fish saw the largest price increases.

After decreasing steadily for eight months, annual price increases for bread and cereals (including wheat, rice and maize) reached 3.7% in February from 1.5% in January. The price increase between January and February was the biggest for the category since the beginning of 2019. – news24.com

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