Category: Resources

The annual consumer price inflation was 5.9% in December 2021, compared with 5.5% in November. It’s the highest recorded annual rate since March 2017, when it increased by 6.1%. Transport prices increased by a massive 16.8%, on the back of rising petrol and diesel prices.

The Consumer Price Index increased to 5.5% in November 2021, compared with 5% in October. That’s the biggest annual increase in almost 5 years. The transport category contributed the most to the inflation in November, recording an annual increase of 15%.

The Consumer Price Index came out unchanged at 5% compared to September. Food and transport costs are the biggest contributors to the rate, with the transport index increasing by 10.9% in October 2021 compared with October 2020. And the SARB has raised its main lending rate by 25 basis points to 3.75%, meaning the prime lending rate of commercial banks will increase to 7.25%.

The headline inflation rose to 5% in September 2021 from 4.9% in August 2021. Food inflation is 7%, electricity 14%, and fuel almost 20%, with a large petrol price increase expected in November.

The term inflation means a sustained increase in the general level of prices of goods and services. The headline annual inflation rate increased to 4.9% in August 2021 from 4.6% in July 2021.

The headline annual inflation rate declined to 4.6% in July 2021 from 4.9% in June 2021.