Lerato Mbhiza
The consumer price inflation (CPI) has risen for a second consecutive month, to 5,6% in February. This is from 5,3% in January and 5,1% in December.
Chief Director for Price Statistics at Stats SA, Patrick Kelly, said the rise in consumer inflation came despite an easing in the rise of food prices.
“Product categories that drove much of the upward momentum include housing and utilities, miscellaneous goods and services (most notably, insurance), food and non-alcoholic beverages (NAB) and transport.
“A 10,3% month-on-month increase in medical aid premiums in the miscellaneous goods and services category took the annual rate for health insurance to 12,9%. Premiums for all types of insurance have increased by 9,5% over the past year”.
“The lingering impact of rising egg prices continues to affect the milk, eggs and cheese category, with eggs 30,7% more expensive than a year ago. Although the current average price of a tray of six eggs (R25,48) is down from its peak in December 2023 (R25,85), it is higher than the February 2023 price tag (R21,13)” he said
The transport category registered an annual increase of 5,4%, driven higher mainly by increases in vehicle and fuel prices.
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