![\"cpi1\"](\"https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2022\/02\/cpi1.jpg\")
<\/a><\/p>\nThis CPI release is the first to be compiled using the recently updated weights and basket of goods and services.1<\/sup> The price indices have also been rebased so that December 2021 = 100.2<\/sup><\/p>\n Fuel and public transport prices moderate in January<\/strong><\/p>\n Motorists and businesses breathed a little easier in January as fuel prices dropped by 2,8% from the record highs in December. The price of inland 95-octane petrol decreased by 68c per litre3<\/sup> and diesel (the average price) was down by 25c. The annual price increase for the fuel category was 32,2% in January, lower than the 40,5% registered in December.<\/p>\n Passengers using public transport also enjoyed lower prices in January. Significant monthly price decreases were recorded for car rental (down 12,0%), air fares (down 11,3%), and long-distance buses (down 20,7%). However, note that these movements between December and January are largely seasonal. If we compare with January 2021, car rental prices have increased by 53,0% and air fares are up by 13,5%. Long-distance bus fares, however, decreased by 9,3%.<\/p>\n Inflation for oils & fats the highest in almost 11 years<\/strong><\/p>\n In contrast to transport, annual food and non-alcoholic beverages inflation edged higher, from 5,5% in December to 5,7% in January. The monthly rate in January was 0,9%, with large monthly increases recorded for oils & fats and vegetables.<\/p>\n Prices for cooking oil continue to soar, increasing by 5,2% between December and January, taking the annual rate to 32,2%. The average price of a bottle of cooking oil (750\u00a0ml) increased to R31,12 in January 2022 from R24,25 a year ago. The annual rate for oils & fats was 22,9% in January, the highest reading since 23,7% in September 2011 (almost 11 years ago).<\/p>\n Vegetable prices jumped to an annual increase of 8,6%, the highest annual rise since April 2019. The monthly rise was 3,4%. Products that recorded notable monthly increases were tomatoes (17,4%), lettuce (15,3%), spinach (6,9%), carrots (5,7%) and pumpkin (2,6%).<\/p>\n Hotel inflation accelerates on the back of higher occupancy rates<\/strong><\/p>\n Restaurant and hotel prices continue to rise as both sectors recover from the worst of the pandemic. Annual inflation for this category was 5,0% in January 2022, increasing from a low of -0,5% in February 2021.<\/p>\n Annual hotel inflation was 2,8% in January 2022, the highest reading since June 2019 (3,1%). The rise in hotel prices follows increasing occupancy rates in the sector. The occupancy rate for South African hotels was 33,2% in November 2021, according to the latest tourist accommodation data.4<\/sup> This is much higher than the low of 1,5% recorded in May 2020, but still worse than the average of 50% recorded in 2019.<\/p>\n For more information, download the January 2022 CPI release here.<\/a><\/p>\n <\/p>\n 1 <\/sup>For more information on the recent reweighting and rebasing exercise, see the information note here<\/a>.<\/p>\n 2 <\/sup>See Figure 1 and Table B1 in the January 2022 CPI release for the headline index.<\/p>\n 3 <\/sup>Department of Mineral Resources and Energy. Comparing prices for petrol, diesel and illuminating paraffin (IP) (click here<\/a>).<\/p>\n 4 <\/sup>Stats SA, Tourist accommodation, November 2021<\/em> (download here<\/a>).<\/p>\n Similar articles are available on the Stats SA website and can be accessed here<\/a>.<\/p>\n For a monthly overview of economic indicators and infographics, catch the latest edition of the Stats Biz newsletter here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Headline inflation dipped to 5,7% in January from 5,9% in December, mainly the result of lower fuel prices. The consumer price index (CPI) increased by 0,2% between December and January, compared with a monthly rate of 0,6% in December. This CPI release is the first to be compiled using the recently updated weights and basket read more »<\/a><\/p>\n