Food, non-alcoholic beverages price help push CPI to seven-month high
The price increases are still within targets set by the South African Reserve Bank, which aims to have the inflation rate between 3% and 6%.
JOHANNESBURG - South Africa's consumer price index (CPI) has edged up by its biggest increase since the first full month of lockdown.
Data from Statistics South Africa showed that CPI increased by 3.3% since this time last year.
This is a rise driven mostly by food and non-alcoholic beverages.
Annual #CPI #inflation hit a seven-month high in October, registering at 3,3%. This was up from 3,0% in September.
Stats SA (@StatsSA) November 25, 2020
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The price increases are still within targets set by the South African Reserve Bank, which aims to have the inflation rate between 3% and 6%.
Stats SA Chief Director Patrick Kelly said that prices for hot drinks, including tea and rooibos, were the largest contributors to the rise in CPI.
"Prices in the food and alcoholic beverages category jumped by 1.4% on average between September and October leading to a 5.4% annual increase. This was the biggest annual rise for this category since September 2017, when the country was emerging from a severe drought."
