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BusinessLive reports that in line with expectations, the consumer price index (CPI) ticked up to 4% in December, partly due to food and fuel price increases.
November’s CPI was 3.6%, its lowest reading since December 2010. Meantime, consumer inflation for the full calendar year averaged 4.1%, which was its lowest annual level since 2005. This was on par with the SA Reserve Bank’s expectations that it would average 4.1% last year. According to Stats SA, transport inflation accelerated to 3.3% in December from -0.3% in November, reflecting higher fuel prices. The food and nonalcoholic beverages category recorded an annual rate of 3.9%, slightly higher than the 3.5% recorded in November. Inflation on housing and utilities slowed slightly in December to 4.6% from 4.8% recorded in November, but it was still the largest contributor to December’s increase, adding 1.1 percentage points.
- Read the full original of the report in the above regard by Lynley Donnelly at BusinessLive
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