CPI edges up in November
Annual consumer price inflation edged up to 4,8 percent in November, from 4,7 percent in October, with the petrol price 22c/litre lower on the month.
A 1c/litre petrol price cut occurred in December, which will have no effect on monthly inflation in that month, according to a note from Investec. Currently a petrol price cut of 5c/litre is building for January as the lower oil price is cancelling out the effect of rand weakness on the next petrol price move.
Pressure came from food and non-alcoholic beverages, particularly fruit, vegetables and meat, with the drought having a devastating effect on the agricultural sector.
Core inflation, which excludes food, non-alcoholic beverages, fuel and energy prices, dropped to 5.1 percent from 5.2 percent.
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