Consumer inflation quickens to 5%
The price of fuel has been attributed as one of the main drivers behind the increase in consumer inflation in September.
The CPI slightly increased to 5% in September, up from 4.9% in August.
Stats SA Director for Price Statistics Marietjie Bennett says the annual transport inflation contributed 10.1%, with fuel being the main driver.
“Transport, food and non alcoholic beverages and housing utilities were the main drivers behind the 5% annual rate in September.
“Annual transport inflation was 10.1% with fuel a significant contributor. On average fuel has increased 19.9% over the past year.
“The price of inland 95 octane reached a high of R18 .34/l in September 2021 biting into the pockets of the motorists who were paying R15.18 / l in September 2020 and R16.03 in September 2019.”
South African consumers have been warned to brace themselves for tough times ahead.
Predictions released by the Central Energy Fund on Monday show that inland 95 Octane prices could reach a whopping R19.33.
Meanwhile inland regions are expected to pay R19.10 for 93 unleaded petrol.
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