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· The annual consumer price index i (CPI) in South Africa rose to 3.2%, up from 2.2% in June. This is the highest monthly rise since February 2016.
· At that time, the inflation rate was 1.4%.
· The inflation in July was largely due to hiked fuel prices coupled with increases in municipal tariffs
The annual consumer price index i (CPI) in South Africa rose to 3.2%, up from 2.2% in June. This is the highest monthly rise since February 2016. At that time, the inflation rate was 1.4%.
Statistics South Africa (Stats SA) said the inflation in July was largely due to hiked fuel prices coupled with increases in municipal tariffs. Authorities say that despite these increases, fuel was still 6.2% cheaper in July . Inland 95-octane petrol would have set a consumer back R15.81 per litre in July 2019.
During July, municipalities introduced revised tariffs (for water and electricity) and municipal rates in the month of July. However, the municipal authorities maintain that the increases in July 2020 are lower than the increases recorded in July 2019.
The annual food and non-alcoholic beverages inflation has remained in the 4.2% – 4.4% range since February 2020. The rate was 4.3% in July 2020. Meat prices remained unchanged on average between the two months. Alcoholic beverages were available for sale in June and for the first half of July. Prices increased by 1.2% during this period with the annual price change was 1.9%.
