February inflation unchanged at 3.2%

This follows a slight increase in January from 3% in December.  

It remains below the South African Reserve Bank’s target range of 3% to 6%. 

In January, inflation increased for a third consecutive month, rising to 3.2% in January from 3% in December and 2.8% in October.

The February Consumer Price Index increased by 0.9% month-on-month.

CPI operations director Lekau Ranoto says recreation, sport and culture, food and non-alcoholic beverages, alcoholic beverages and tobacco, and communication recorded higher annual inflation rates in February.

"The annual rate for food and non-alcoholic beverages accelerated to 2.8 % in February from 2.3 % in January. Fruit and nuts, vegetables, hot beverages, seafood, meat and cereals recorded higher rates."

Ranoto says inflation cooled for several product categories, including personal care and miscellaneous services, health, restaurants and accommodation, furnishings, household equipment and routine maintenance, and transport

"Cold beverages, milk, dairy and eggs, oils and fats and sugar, confectionery and desserts witnessed slower price increases. Maize mill inflation reached a 17-month high, and SEMP inflation at a 19-month high in February.

"The rise in prices is driven by inflationary pressure from the farming and manufacturing of maize, according to the latest producer price index data.

"On average, consumer prices for meat stayed the same in February compared with January, resulting in a monthly change of 0%. The annual rate was also 0%. While meat remained subdued, inflation for hot beverages continues to accelerate."

There was an increase in medical insurance and health services in February.

"Medical aid premiums increased by 10.5% this year, slightly up from 10.3% in 2024. Health services rose by 6.1% compared with a 5% rise last year,” Ranoto added. 

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