{"id":13930,"date":"2021-01-20T10:00:32","date_gmt":"2021-01-20T08:00:32","guid":{"rendered":"http:\/\/www.statssa.gov.za\/?p=13930"},"modified":"2021-01-20T10:00:32","modified_gmt":"2021-01-20T08:00:32","slug":"inflation-for-2020-was-the-lowest-in-16-years-and-the-second-lowest-in-51-years","status":"publish","type":"post","link":"https:\/\/www.statssa.gov.za\/?p=13930","title":{"rendered":"Inflation for 2020 was the lowest in 16 years and the second lowest in 51 years"},"content":{"rendered":"

The December 2020 Consumer Price Index (CPI) release concludes the data points for the entire calendar year. The average annual inflation rate for 2020 was 3,3%. This is the lowest annual average rate since 2004 (1,4%) and the second lowest since 1969 (3,0%).<\/p>\n

One of the reasons for low inflation in 2004, according to the South African Reserve Bank at the time, was a firmer rand, which strengthened from R7,56\/$ in 2003 to R6,45\/$ in 2004 (annual average).1<\/sup><\/p>\n

\"cpi1\"<\/a><\/p>\n

Annual inflation ended 2020 at 3,1% in December, slightly lower than November\u2019s reading of 3,2%. The monthly increase in the CPI was 0,2%, up from 0% in November.<\/p>\n

The food and non-alcoholic beverages category was the main driver of inflation in December, with a monthly increase of 0,5% and an annual rise of 6,0%. This was up from November\u2019s annual reading of 5,8%.<\/p>\n

Three food groups recorded above average annual and monthly price increases in December:<\/p>\n