Consumer Price Inflation lowest recorded in 3 years amid food insecurity crisis in SA

Lungile Ntimba 

Stats SA results announced on Wednesday showed that consumer price inflation dropped down to 4.6% in July from 5.1% in June  – the lowest recorded since 2021.

According to Stats SA, the monthly increase in the consumer price index (CPI) was 0,4%, higher than the 0,1% rise recorded between May and June.

Lower annual rates were recorded for several product groups, most notably food  and non-alcoholic beverages (NAB), transport, and housing & utilities.

The results show that the annual rate for food and NAB decreased to 4,5% in July, from 4,6% in June. Food & NAB registered a slowing inflation trend since its most recent high of 9,0% in November 2023 and is currently at its lowest since September 2020 (3,8%).

Fuel prices receded for a second straight month, declining by 3,6% in July. Except for public transport, most categories in the transport groups witnessed lower annual rates,