Consumer inflation dips to lowest in three years
Consumer inflation has dipped below 5% to a three-year low of 4,6%.
Statistics South Africa says the decline from June's 5.1% has brought food inflation to its lowest level since 2020.
Chief Director for Price Statistics, Patrick Kelly, said bread flour, cake flour, pasta and macaroni are cheaper than they were a year ago.
"Meat is the most heavily weighed food group in the inflation basket, taking up just over a third of household spending on food. The price index for meat recorded a monthly decline of 0,4% and an annual rise of 1,0%."
"Hot beverages continue to witness high inflation rates. The price index for the category increased sharply by 17,6% in the 12 months to July, up from 16,5% recorded in June."
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Rice went up 21,3% and maize meal 5,1%.
"Lower annual rates were recorded for several product groups, most notably food and non-alcoholic beverages, transport, and housing and utilities," said Kelly.
"The annual rate for food and non-alcoholic beverages was 4,5% in July, down from 4,6% in June. Food and non-alcoholic beverages registered a slowing inflation trend since its most recent high of 9,0% in November 2023 and is currently at its lowest since September 2020."
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