Lerato Mbhiza
Consumer prices in South Africa slowed for the second month in a row as inflation eased on bread, cereals, oils and fats.
Statistics South Africa (StatsSA) on Wednesday said the headline consumer price index (CPI) pulled back in December, easing to 5.1% from 5.5% in November and 5.9% in October.
This was the lowest reading in four months, edging closer to the South African Reserve Bank’s preferred 4.5% midpoint of the 3–6% target range.
Stats SA chief director for price statistics Patrick Kelly said prices decelerated mainly for food and non-alcoholic beverages, from 9.0% in November to 8.5% in December.
These included items such as bread and cereals, oils and fats, sugar, sweets and desserts, vegetables, and hot beverages.
In a statement, Stats SA said the average inflation rate for the year was 6.0%, lower than the 6.9% recorded in 2022.
Inflation was relatively high in the first
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