Consumer inflation rises for second consecutive month

Stats SA's reported that CPI climbed again, from 5.3% in January. 

The agency's Patrick Kelly says the main contributors were housing and utilities, which grew 5,8% year-on-year and contributed 1,4 percentage points. 

Food and non-alcoholic beverages, as well as transport, contributed to the total. 

READ: Mixed fuel price outlook for April

He says the price of potatoes, eggs, and sweet potatoes increased the most over the past 12 months.

"The lingering impact of rising egg prices continue to affect the milk, eggs and cheese category, with eggs 30,7% more expensive than a year ago. Although the current average price of a tray of six eggs (R25,48) is down from its peak in December 2023 (R25,85), it is higher than the February 2023 price tag (R21,13).

"Annual rice inflation increased further to 25,0% in February from 23,8% in January. A bag of rice (1 kg) would have set you back R31,83 in February, sharply up from R23,54 a year ago. 

"Pizza & pies, also classified with rice in the bread and cereals category, have seen sharp price increases too, rising by 17,5% in the 12 months to February."

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