Consumer inflation drops for fourth consecutive month
Consumer inflation has dropped for the fourth month in a row, easing to 3.8 per cent in September.
Stats SA says this is the lowest inflation print since March 2021, when the rate was 3.2 per cent.
The service's Chief Director for Price Statistics, Patrick Kelly, said lower transport inflation, especially falling fuel prices, was a contributing factor.
"Fuel prices dropped for a fourth successive month and are on average 9,0% lower than a year ago. A litre of inland 95-octane petrol was R22,19 in September, the lowest price since February 2023 (R21,68). Price increases for vehicles have also slowed; the annual rate was 3,6% in September 2024, down from a high of 8,4% in September 2023."
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He says annual inflation for food and non-alcoholic beverages remained unchanged from August.
"Annual food and non-alcoholic beverages (NAB) inflation was 4,7%, unchanged from August. Softer annual rates were recorded for hot beverages, meat, bread, and cereals; sugar, sweets & desserts; and oils and fats.
"Hot beverages continued to register the highest annual rate among all food and NAB categories (at 15,8%), despite a cooler rate in September when compared with August’s 17,5%. Vegetables, fruit, cold beverages, and fish recorded higher rates in September. Inflation for milk, eggs & cheese was stable."
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