CPI ticks up to 3.2% in January
Headline consumer inflation increased for a third consecutive month, rising to 3.2% in January from 3% in December and 2.8% in October.
The Consumer Price Index increased by 0.3% month-on-month in January.
Housing and utilities, food and non-alcoholic beverages, restaurants, and accommodation services were the biggest contributors to the CPI.
January's consumer inflation rate was the first calculated according to a new basket of goods.
Chief Director for Price Statistics Patrick Kelly says fuel prices rose by 0.9% in early January, reflecting higher global oil prices and a weaker rand.
"The fuel index witnessed its third consecutive monthly rise, increasing by 0.9% in January compared to December. This took the annual rate to a negative 4.5% from a negative 10.2% in December. The price for inland 95-octane petrol, for example, was R21.59 in January, up from the recent low of R21.05 in October 2024."
Kelly said the CPI for food and non-alcoholic beverages increased by 2.3% in the last 12 months to January.
"This is a lower increase than the 2.5% registered in December 2024. Meat prices were, on average, 0.5% lower in January 2025 compared with a year ago. This is the third month that the CPI for meat has been in deflation, mainly the result of a downward trend in the price index during 2024.
"In January, prices increased by 0.8% month-on-month, following a 0.5% month-on-month rise in December. Prices for cereal products increased by an annual 3.8% from 3.7% in December. Maize meal prices rose by 4.8% between December and January, taking the annual rate to 10.1%. The annual increase for Samp was 15.4%. In contrast, prices dropped for both white and brown bread, with the annual increase for white bread being 1.9% and for brown bread, 1%.”
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