![\"cpi1\"](\"https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2024\/02\/cpi1.jpg\")
<\/a><\/p>\nThe categories in the CPI basket with the largest annual price increases were restaurants & hotels at 8,0%, food & non-alcoholic beverages (NAB) at 7,2%, and health at 6,5%.<\/p>\n
Fuel prices lower in the month, but still higher than a year ago<\/strong><\/p>\n A monthly decline of 5,2% in fuel prices between December and January was not enough to subdue the annual rate for fuel, which jumped from -2,5% in December to 3,3% in January. This contributed to a sharp rise in annual transport inflation to 4,6% from 2,6% in December.<\/p>\n Inflation for several transport categories cooled in January. With the festive season over, public transport tariffs decreased by 2,0% in January compared with December, dragged lower by monthly price decreases for long-distance busses (down 21,2%), car rental (down 12,1%) and air fares (down 4,1%).<\/p>\n Wining and dining more expensive<\/strong><\/p>\n Prices for the restaurants and hotels group increased by 8,0% in the 12 months to January, up from December\u2019s print of 7,0%. Restaurant-related product groups that recorded relatively high annual increases in January included fish & seafood products (up 9,9%), red meat-based products (up 9,7%) and hamburgers (up 8,6%).<\/p>\n After rising during the festive season, hotel room rates decreased by 2,1% between December and January. Despite this decline, hotel rooms remain more expensive than a year ago, with prices increasing by 10,7% in the last 12 months.<\/p>\n Food inflation cools for a second consecutive month<\/strong><\/p>\n Annual inflation for food and NAB slowed to 7,2% in January from 8,5% in December and 9,0% in November. All sub-categories recorded lower annual rates, apart from sugar, sweets & desserts, oils & fats, and cold beverages.<\/p>\n The annual rate for sugar, sweets & desserts increased from 17,9% in December to 18,5% in January. Sugar prices drove much of the upward momentum, with the annual rate for white sugar accelerating from 20,1% in December to 21,2% in January. Prices at the factory gate were also elevated. The December producer price index (PPI) reported sugar inflation at 23,5%, with raw cane sugar increasing by 36,7% and refined sugar by 18,8% in the last 12 months.1<\/sup><\/p>\n Annual inflation for bread & cereal products declined from 7,5% in December to 6,5% in January. Meat inflation was also softer, cooling from 3,9% to 2,2%.<\/p>\n Other notable price changes in January<\/strong><\/p>\n Annual inflation for miscellaneous goods and services ticked up to 5,4% in January from 5,1% in December. Prices for personal care items increased by an annual rate of 9,5%, lower than the 10,3% rise recorded in December. An increase in bank fees contributed to a 5,5% annual rise in financial services.<\/p>\n The graphs below show the products that recorded the most significant annual and monthly price increases in January.<\/p>\n Download the January 2024 CPI statistical release and Excel files with indices and average prices here<\/u>.<\/a> The archive is available here<\/a>.<\/p>\n 1 <\/sup>Stats SA, Producer Price Index (PPI), December 2023<\/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 <\/p>\n","protected":false},"excerpt":{"rendered":" After two consecutive months of decline, annual consumer inflation crept up in January, rising to 5,3% from 5,1% in December. The monthly change in the consumer price index (CPI) was 0,1% in January. The categories in the CPI basket with the largest annual price increases were restaurants & hotels at 8,0%, food & non-alcoholic beverages read more »<\/a><\/p>\n<\/a><\/p>\n