Cape Town – South Africa’s inflation rate increased for the first time in four months, reaching 7% in February from 6.9% in January, Statistics SA revealed on Wednesday.
This shows that inflation increased by 0.7% on month-on-month in February, it said.
The main contributors were rising food and transport costs.
In February, food and non-alcoholic beverages annual inflation hit 13.6% – the highest level since April 2009.
Transport inflation increased by 9.9% year-on-year.
“Annual inflation for bread and cereals was 20.5%, slightly lower than January’s 21,8%. Maize meal, an important staple, continues to see high rates of inflation. Its price index increased by 2.2% between January and February, taking the annual rate to 34.7%. Notable monthly price increases were also recorded for rusks, macaroni and savoury biscuits,” Stats SA said.
Annual consumer #inflation rose for the first time in four months, edging to 7,0% in February from 6,9% in January.
Read more here: https://t.co/mvcseo0WDe #StatsSA #CPI pic.twitter.com/cMhDODvxsl
— Stats SA (@StatsSA) March 22, 2023
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Compiled by Betha Madhomu
