{"id":738193,"date":"2023-12-13T10:00:00","date_gmt":"2023-12-13T08:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=738193"},"modified":"2023-12-13T10:23:48","modified_gmt":"2023-12-13T08:23:48","slug":"inflation-relief-for-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/738193\/inflation-relief-for-south-africa\/","title":{"rendered":"Inflation relief for South Africa"},"content":{"rendered":"\n

After three months of increase, headline consumer inflation dropped in November. <\/p>\n\n\n\n

According to Stats SA, headline consumer inflation cooled to 5.5% in November from 5.9% in October.<\/p>\n\n\n\n

There was also a 0.1% monthly decline in the consumer price index (CPI).<\/p>\n\n\n\n

The monthly decline was primarily driven by the 5.5% decrease in the fuel price index, which caused the annual rate for fuel to lower from 11.2% in October to 1.8% in November. <\/p>\n\n\n\n

This led to a decline in the annual rate for transport, decreasing from 7.4% to 4.3%. <\/p>\n\n\n\n

This, in turn, led to a reduction in the annual rate for transport, which decreased to 4,3% from 7,4%.<\/p>\n\n\n

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However, food and non-alcoholic beverages climbed to a four-month high of 9.0%, with meat inflation climbing by 0.1% to 3.5% in November. <\/p>\n\n\n\n

“The outbreak of avian flu continued to disrupt the poultry market. The annual rate for IQF (individual quick frozen) chicken was 7.3% in November, up from 5.5% in October,” Stats SA said.<\/p>\n\n\n\n

“Non-IQF frozen chicken recorded an annual rate of 9.1% in November. Egg prices continued to boil, heating by a monthly 10.6%. This pushed the annual rate for eggs higher to 39,9% from 24,4% in October.”<\/p>\n\n\n\n

Fruit products also saw an annual increase of 11.5% in November – the highest level since December 2020 (11.8%). <\/p>\n\n\n\n

Sugar, sweets & desserts also climbed from October\u2019s 17.6% to 18.5%<\/p>\n\n\n\n

‘In the 12 months to November, prices for white sugar increased by 21.4%, brown sugar by 23.7% and chocolate slabs by 11.8%,” Stats SA said. <\/p>\n\n\n\n

However, annual inflation for bread & cereals continued to decline for the seventh consecutive month, dropping from 8.8% in October to 8.5%<\/p>\n\n\n\n

Vegetable inflation also dropped from 23.6% to 23.5%<\/p>\n\n\n\n

“Onion prices declined for a fifth straight month, decreasing by 6.1% in November compared with October. Consequently, the annual rate for onions cooled to 2.5%. This reading is much lower than the eye-watering peak of 64,5% recorded in June this year.” <\/p>\n\n\n\n

The annual increase in hot beverages was also recorded at 11.4%, with the yearly inflation of instant coffee being double-digit since March 2022, except for August 2023. <\/p>\n\n\n\n

Other big changes <\/strong><\/p>\n\n\n\n

Household maintenance services – only surveyed in May and November – recorded an annual rate of 7.4% in November – the highest level since the current CPI series began in 2008.<\/p>\n\n\n\n

Pharamaecuutial products saw an annual price increase of 7.5%, with non-prescription medicine products, including vitamin and mineral supplements (up 13.2%), heartburn medication (up 12.6%), pain killers (up 12.3%) and cough syrup (up 10.3%), seeing significant increases. <\/p>\n\n\n

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Read<\/strong>: South African inflation expected to ease in 2024<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

South Africa’s headline inflation has dropped – but eggs and potatoes will still set you back quite a bit.<\/p>\n","protected":false},"author":95,"featured_media":669109,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[26,1809],"class_list":["post-738193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-headline","tag-stats-sa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/738193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=738193"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/738193\/revisions"}],"predecessor-version":[{"id":738221,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/738193\/revisions\/738221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/669109"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=738193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=738193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=738193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}