Zuko Komisa
- Overall annual inflation rose to 3.6% in October from 3.4% in September, marking the highest rate in a year.
- Food and NAB inflation moderated to 3.9%, driven by slower growth in categories like vegetables, sugar, and meat.
- Cereal product prices accelerated to 2.0%, while meat inflation remains high, with stewing beef surging over 30%.
Annual consumer inflation in the SA crept up to 3.6% in October, according to the latest figures, a modest rise from 3.4% in September.
This marks the highest inflation rate since September 2024 (3.8%). Month-on-month, the Consumer Price Index (CPI) increased by 0.1%.
A key development was the weakening of annual inflation for food and non-alcoholic beverages (NAB), which eased from 4.5% to 3.9%.
Categories witnessing a slowdown included vegetables, meat, and hot and cold beverages.
Despite the overall moderation, meat inflation though lower at 11.4% (down from 11.7%) remains elevated.
Price increases for several cuts, such as stewing beef (30.9%) and beef steak (27.9%), are still in double digits. Conversely, corned meat and fresh whole chicken are now cheaper than a year ago.
Cereal products saw their annual rate accelerate to 2.0% from 1.6%, with maize meal hitting a four-month high at 10.7%. Meanwhile, the rate for sugar, confectionery, and desserts slowed to 3.5%, its lowest reading since March 2022.
Kaya Biz spoke to Patrick Kelly – Chief Director for Price Statistics, Stats SA who unpacked the latest figures.
Listen to the full conversation here:
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