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Fin24 reports that Statistics SA reported on Wednesday that the consumer price inflation (CPI) rate rose by 4.3% year-on-year in August, compared to 4% in July.
Annual food inflation reached its highest level in 18 months, registering 3.8% in the month of August. This was mostly due to an 8.6% increase in bread and cereal prices. Mielie meal prices have seen a sharp hike. Super maize was almost 18% more expensive in August compared with the same month last year. Special maize prices jumped by 27.5% over the same period. Oil-based food items – such as cooking oil and margarine, which are derived mainly from sunflowers – also saw a sharp jump. Fish prices are also on an upward trend. Annual fish inflation was 7.5% in August, with tinned fish (excluding tuna) 8.7% more expensive than it was a year ago.
- Read the full original of the report in the above regard by Helena Wasserman at Fin24
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