Inflation ticks up in January
Annual consumer inflation has climbed for the first time in two months.
It rose to 5.3% in January, creeping up from 5.1% in December.
Stats SA announced the latest headline consumer inflation on Wednesday and came ahead of the budget speech by Finance Minister Enoch Godongwana.
The budget is due to be tabled on Wednesday afternoon.
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Chief Director for Price Statistics at Stats SA, Patrick Kelly, says the categories in the CPI basket with the largest annual price increases were restaurants and hotels, food and non-alcoholic beverages, and health.
He says while the fuel prices were lower in the month, they remain higher than a year ago.
“The categories in the CPI bucket with the largest annual price increases were restaurant and hotels at 8%. Food and no-alcohol beverages at 7.2%, health at 6.5%. A 5.2% monthly decline in fuel prices between January and December was not enough to subdue the annual rate for fuel, which jumped from a negative 2.5% in December and to 3.3% in January."
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