Newly-released Statistics South Africa figures show that the country’s annual Consumer Price Index (CPI) increased from 6.9% in January to 7% in February this year.
It says this shows that inflation increased by 0.7% on month-on-month in February.
Inflationary pressures came in from food and non-alcoholic beverages, housing and utilities and transport.
Food inflation increased to an all-time high at 13.6% year-on-year.
Transport inflation increased by 9.9% year-on-year.
Prices for food and non-alcoholic beverages increased by 13.6% over the past 12 months, up from 1.,4% recorded in January.
In statement Stats SA says the reading in February is the highest since April 2009 when it was also 13.6%.
“Annual inflation for bread and cereals was 20.5%, slightly lower than January’s 21,8%. Maize meal, an important staple, continues to see high rates of inflation. Its price index increased by 2.2% between January and February, taking the annual rate to 34.7%. Notable monthly price increases were also recorded for rusks, macaroni and savoury biscuits,” the statement elaborates.
Annual consumer #inflation rose for the first time in four months, edging to 7,0% in February from 6,9% in January.
Read more here: https://t.co/mvcseo0WDe #StatsSA #CPI pic.twitter.com/cMhDODvxsl
— Stats SA (@StatsSA) March 22, 2023
