Sharp increases in the price of basic foodstuffs such as maize meal and tinned fish‚ allied with the soaring fuel price and municipal charges‚ are reflected in the latest consumer price index (CPI)
Prices increased by 0.3% on average in May‚ said Statistics SA.
This was mainly driven by a 3.3% rise in fuel prices. The price per litre of inland 95-octane petrol was R16.67 in May and diesel was R16.40. Fuel prices have increased by 11.6% in the past 12 months. A noticeable trend over 2019 has been the uptick in the prices of some basic foodstuffs‚ StatsSA noted.
Of the 34 products in the CPI basket that comprise the minimum food requirements for poverty analysis‚ 20 registered an annual increase above the 3.2% inflation rate recorded for food and non-alcoholic beverages in May. Among these‚ 11 showed an increase above the monthly 0.3% rise for food and non-alcoholic beverages.
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