Consumer inflation dips to 4.4% in August
Annual consumer inflation dropped for a third consecutive month in August.
The consumer price index (CPI) dipped to 4.4% from 4.6 % in July.
Stats SA's Chief Director for Price Statistics, Patrick Kelly, says it's the lowest inflation print since April 2021.
"Lower annual rates were recorded for several product groups, most notably transport, housing, restaurants, and hotels. In contrast, inflation for food and non-alcoholic beverages and alcoholic beverages & tobacco edged higher in August.
"All transport-related products recorded softer annual rates in August. Fuel prices continued to trend downward, declining for a third consecutive month. The fuel index dipped by 0.5% month-on-month, slowing the annual rate to 1.8%. Motorists using inland 95-octane petrol paid 15c less per litre in August (R23.11) compared with July (R23.26)."
READ: Another fuel price drop expected in October
"Diesel followed a similar trend, with motorists enjoying a fourth consecutive cut. The average price for a litre of diesel was R23.23 in August compared with R23.35 the month before."
Kelly says food and non-alcoholic beverages inflation rose to 4.7% in August.
"Most product groups registered higher annual rates, including bread & cereals; meat; fish; milk, eggs & cheese; oils & fats and vegetables."
"Products with the largest annual price increases include rice (up 17.3%), pizza and pies (up 10.9%) and hot breakfast cereals (up 7.9%)."
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