Lerato Mbhiza
The annual consumer inflation increased for a third consecutive month in October, verging on the upper limit of the South African Reserve Bank’s inflation target range.
The headline rate was 5,9%, up from 5,4% in September. Consumer prices increased on average by 0,9% between September and October, the highest monthly rise in three months, Stats SA announced on Wednesday.
Inflation for food and non-alcoholic beverages (NAB) accelerated for a second consecutive month, rising to 8,7% in October from 8,1% in September and 8,0% in August.
The 1,5% monthly rise was the highest since January this year (1,8%). The biggest contributors to the uptick in inflation were food and non-alcoholic beverages and transport costs, which jumped 8.7% and 7.4% respectively.
The increase in the food index was driven by higher prices for poultry-related products, including eggs, that have come under increased upward pressure due to the outbreak of avian
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