The monthly increase in the consumer price index (CPI) was 0.2%, the lowest reading since January 2022, says Statistics South Africa (Stats SA).<\/p>\n
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The decrease was amid fuel prices decreasing by 3.8% between July and August, with petrol falling by 5.0% and diesel by 0.9%.<\/p>\n
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\u201cThis pushed the annual rate for fuel down to 43.2% from 56.2% in July. The welcome decrease in the cost of fuel had an impact on the overall transport index, which declined by 1.0% between July and August,\u201d the agency said.<\/p>\n
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In contrast to fuel, food inflation continued upwards. The food and non-alcoholic beverages (NAB) index increased by 11.3% in the 12 months to August, higher than the reading of 9.7% in July.<\/p>\n
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Annual food and NAB inflation has climbed significantly from the recent low of 6.0% in April this year and has remained above 5.0% since October 2020. Nine of the 11 food and NAB categories recorded an annual inflation rate above 8.0% in August.<\/p>\n
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During this period, bread and cereals registered an increase of 3.1% between July and August, pushing the annual rate from 13.7% to 17.8%. Maize meal increased by 4.8% from July, taking the annual rate to 29.1%. Brown bread registered a monthly rise of 2.2% and cake flour 3.9%.<\/p>\n
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In a statement, Stats SA said annual meat inflation eased slightly from 9.4% in July to 9.2% in August, with a monthly increase of 0.7%. Annual meat inflation has remained above 8.0% since May 2021.<\/p>\n
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\u201cPrices for milk, eggs and cheese increased by 2.1% between July and August. Products with higher than average monthly increases include cheddar cheese (3.1%), low fat milk (2.9%) and full cream milk (2.6%).<\/p>\n
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\u201cOils and fats hit another annual high \u2013 37.6% in August, up from 36.2% in July. The monthly rate, however, has slowed from its peak of 10.1% in May this year to 1.1% in August.<\/p>\n
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\u201cHot beverage prices steamed to their highest annual rate in 64 months at 11.8% (compared with 12.1% in April 2017), stirred up by monthly increases in rooibos tea (7.6%) and instant coffee (3.9%).\u201d<\/p>\n
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Household cleaning products recorded significant price increases.<\/p>\n
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\u201cWashing powder is 26.2% more expensive than a year ago. Laundry soap will set you back an additional 33.9%, compared with August last year, and the price of dishwashing liquid has climbed by 13.6% over the same period. Overall, the price index for cleaning and maintenance products increased by 23.4% over the past 12 months,\u201d Stats SA said.<\/p>\n
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Source: South African Government News Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
The monthly increase in the consumer price index (CPI) was 0.2%, the lowest reading since January 2022, says Statistics South Africa (Stats SA). The decrease was amid fuel prices decreasing by 3.8% between July and August, with petrol falling by 5.0% and diesel by 0.9%. \u201cThis pushed the annual rate for fuel down … <\/p>\n