Inflation rises for the first time since October – StatsSA

PHUTI MOSOMANE

ANNUAL consumer inflation rose for the first time in four months, edging to 7,0% in February from 6,9% in January, according to Stats SA.

Food and non-alcoholic beverages and transport were the main contributors to the inflation rate in February.

The consumer price index (CPI) rose by 0,7% between January and February, representing the largest monthly increase since July 2022 (1,5%).

According to data from StatsSA, bread and cereals continue to push food inflation higher.

Prices for food and non-alcoholic beverages increased by 13,6% over the past 12 months, up from 13,4% recorded in January.

The reading in February is the highest since April 2009 when it was also 13,6%. Annual inflation for bread & cereals was 20,5%, slightly lower than January’s 21,8%. Maize meal, an important staple, continues to see high rates of inflation.

Its price index increased by 2,2% between January and February, taking the annual