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Fin24 reports that annual consumer price inflation reached 5.7% in February, unchanged from 5.7% in January. Still, transport prices and food saw big increases last month.
With diesel and petrol prices up by a third over the past year, transport prices increased by 14.3% year-on-year. Food and non-alcoholic beverages increased by 6.4% year-on-year, from 5.7% in January and 5.5% in December. Maize meal, white bread and fish saw the largest price increases. After decreasing steadily for eight months, annual price increases for bread and cereals (including wheat, rice and maize) reached 3.7% in February from 1.5% in January. A number of bread and cereal products saw large monthly price increases, with maize meal (up by 3.7%) and white bread (up by 3.2%) being some of the largest gainers. In rand terms, a loaf of white bread was on average 69c more expensive in February than in January, up to R16.16 from R15.47, Statistics SA indicated. Fish prices also saw a big increase, rising by 2.3% between January and February. Tinned fish (excluding tuna) and frozen fish fingers recorded the largest monthly increases.
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