Inflation ticked down marginally to 5.1% in June, reveals Stats SA
The local inflation data was released on Wednesday, showing a drop in overall food inflation, as well as cooler prices for housing and utilities.
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JOHANNESBURG - Statistics South Africa (Stats SA) said inflation has ticked down marginally from 5.2% in May to 5.1% in June, in line with market expectations.
The local inflation data was released on Wednesday, showing a drop in overall food inflation, as well as cooler prices for housing and utilities.
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Inflation has remained between the 5% and 6% range for the past 10 months.
Inflation for food and non-alcoholic beverages has declined from its recent peak of 14% in March last year.
“Food and non-alcoholic beverages inflation has declined from its recent peak of 14.0% in March 2023,” said chief director for price statistics, Patrick Kelly.
“June’s reading is the lowest since September 2020 – 45 months ago at the peak of the COVID-19 lockdowns when the rate was 3.8%.”
Several items under this category registered lower annual rates in June, including sugar, sweets and desserts, vegetables, fruit, milk, eggs, cheese and fish.
However, inflation quickened for hot and cold beverages, bread and cereals, as well as meat.