Cash-strapped South Africans set for more pain as food, housing, utility prices top inflation charts
Inflation remained flat in February recording the same 3.2% reading seen in January.
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JOHANNESBURG - South Africans are still buckling under the weight of high living costs as the prices for food, housing and utilities top the inflation charts.
Stats SA released the latest inflation print on Wednesday.
Inflation remained flat in February, recording the same 3.2% reading seen in January.
Annual consumer price inflation remains uchanged at 3,2% in Feb. This is below market expectations. The pause comes a day before the MPC wraps up its policy rate meeting. Economists are forecasting a pause on the repo rate as well. More on https://t.co/qryflAPfvR@ewnreporter pic.twitter.com/nZ4hmdHeY0
— Nokukhanya ‘Siri’ Mntambo (@khanya_mntambo) March 19, 2025
Stats SA said that the annual rate for food and non-alcoholic beverages accelerated to 2.8% in February from the previous month’s 2.3%.
The change was mostly as a result of higher maize prices, with a 5kg bag of maize meal costing almost R75 at the till.
The same item cost almost R69 a year ago.
Director for CPI Operations at Stats SA, Lekau Ranoto, said that vegetables, fruits, nuts, cereals, seafood and meat also recorded higher rates.
"On the downside, cold beverages, milk, dairy and eggs, oils and fats, sugar and confectionary and desserts all recorded slower price increases."
Despite this and other pressures, including medical aid premiums surveyed in February, inflation still came in below market expectations of between 3.4% and 3.7%.
A contraction in fuel prices partly contained the upside.