![\"cpi1\"](\"https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2022\/08\/cpi1.jpg\")
<\/a><\/p>\nThe consumer price index (CPI) jumped by 1,5% between June 2022 and July 2022 \u2013 only the fourth time since 2008 (i.e. since the beginning of the current CPI series) that the monthly increase was 1,5% or higher.<\/p>\n
Consumers are feeling the pinch, particularly for non-durable goods \u2013 those items bought most frequently, such as food, drink, electricity, fuels, and medicine. Annual inflation for non-durable goods is in double-digit territory, at 14,4%. This is much higher than the rates recorded for durable goods (4,8%) and services (4,2%).<\/p>\n
The annual rate for food and NAB was 9,7% in July, higher than the 8,6% reading in June. Bread & cereals inflation continues to quicken, with the annual rate rising to 13,7% from 11,2% in June; the monthly increase was 2,4% in July, with large monthly price increases recorded for maize meal (4,2%), cake flour (6,3%), macaroni (5,0%) and white bread (2,8%). Rice bucked the trend, with prices decreasing by 3,1%.<\/p>\n
Oils & fats continue to register the highest annual rate of increase among food products, accelerating to 36,2% in July from 32,5% in June.<\/p>\n
There is much public interest in the impact of actual price increases on consumers. The graphic below shows the change in average prices, from July 2021 to July 2022, for a selection of commonly purchased food items (click on the image to enlarge).<\/p>\n
Municipalities increase service charges in July every year. Electricity tariffs increased on average by 7,5%, equivalent to the 7,5% benchmark approved by the National Energy Regulator of South Africa (NERSA). This increase is lower than last year\u2019s rise of 13,8% but higher than the 2020 increase of 6,3%.<\/p>\n Together with the rise in electricity tariffs, consumers also had to deal with further fuel price increases. Transport costs were up by 4,8% between June and July, with fuel rising by 9,4%. Fuel is 56,2% more expensive than it was twelve months ago, with the price of a litre of inland 95-octane petrol rising from R17,39 in July 2021 to R26,74 in July 2022.1<\/sup> The average price for diesel increased from R16,58 to R26,61 per litre over the same period.<\/p>\n Those relying on public transport didn\u2019t escape the pain. Taxi fares jumped in July too, rising by 9,0% from June and taking the annual rate to 16,4%.<\/p>\n <\/p>\n For more information, download the July 2022 CPI statistical release here.<\/a><\/p>\n 1 <\/sup>Department of Mineral Resources and Energy. Comparing prices for petrol, diesel and illuminating paraffin (IP) (click 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":" Annual consumer inflation reached another 13-year high, increasing to 7,8% in July from 7,4% in June. Transport; food and non-alcoholic beverages (NAB); and housing and utilities continue to place upward pressure on the annual rate. Bread & cereals, oils & fats, fuel and electricity all made a notable impact on this month\u2019s reading. The consumer read more »<\/a><\/p>\n<\/a><\/p>\n