Consumer inflation drops to 4.9% in June
Updated | By Nomfundo Ngcobo
Headline consumer inflation dropped to 4,9 percent in June after recording a 30-month high in May.
Inflation stood at 5.2% in May.
Stats SA says the monthly increase in the consumer price inflation was 0.2%.
It was 0.1% in May.
Chief Director for Price Statistics, Patrick Kelly, says annual food and non-alcoholic beverages remained unchanged at 6.7%.
READ: Mapisa-Nqakula: Nobody can question my loyalty to Ramaphosa, ANC
He says excluding food, non-alcoholic beverages and fuel, annual consumer inflation came in at 3.4% in June.
"These relatively high rates come off a low base recorded during the second quarter of 2020 when fuel prices were depressed.
"The three food groups that registered the highest annual increases in June were oils and fats, meats and sugar, sweets and desert."
"Oils and fats has seen seedily increasing prices since February 2019. Meat inflation continued to accelerate to reaching an annual rate of 8.6 percent from a 12-month low of 4.1 percent in August 2020.”
Fuel prices increased by 27.5% which is lower from then the 37.4% rise in May.
The Reserve Bank’s Monetary Policy Committee is set to announce the latest repo rate on Thursday.
Show's Stories
-
VIDEO: Lash tech's car set on fire after customer fails to secure an appointment
An unhappy customer decided to lash out on her technician...
East Coast Breakfast 36 minutes ago -
An innovative solution to SA's queues at Home Affairs resurfaces
A weird invention that could help you in a queue...
East Coast Breakfast 3 hours ago