![\"sepcip\"](\"https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2024\/09\/sepcip.jpg\")
<\/a><\/p>\nTransport inflation loses steam<\/strong><\/p>\n All transport-related products recorded softer annual rates in August. Fuel prices continued to trend downward, declining for a third consecutive month. The fuel index dipped by 0,5% month-on-month, slowing the annual rate to 1,8%. Motorists using inland 95-octane petrol paid 15c less per litre in August (R23,11) compared with July (R23,26).1<\/sup><\/p>\n Diesel followed a similar trend, with motorists enjoying a fourth consecutive cut. The average price for a litre of diesel was R23,23 in August compared with R23,35 the month before.2<\/sup><\/p>\n Transport\u2019s influence on overall inflation has waned since mid-2022, when it was the biggest factor behind the rise in the cost of living. It accounted for 44% of overall inflation in July that year. Fast forward to August\u00a02024, transport accounted for 9%, placing it behind other major contributors such as housing & utilities and food & NAB. In August, housing & utilities accounted for a quarter of the total inflation rate.<\/p>\n Food inflation edges higher<\/strong><\/p>\n After an 8-month downtrend, annual food & NAB inflation picked up in August, rising to 4,7% from 4,5% in July. Most product groups registered higher annual rates, including bread & cereals; meat; fish; milk, eggs & cheese; oils & fats and vegetables. Lower rates were recorded for fruit; sugar, sweets & desserts; and both hot and cold beverages.<\/p>\n Annual bread & cereals inflation quickened for a third successive month. Products with the largest annual price increases include rice (up 17,3%), pizza and pies (up 10,9%) and hot breakfast cereals (up 7,9%). The monthly rise in bread & cereals was 0,4%, with notable increases recorded for grain-based products such as bread flour (up 2,1%), brown bread (up 1,3%) and white bread (up 1,2%).<\/p>\n While the meat index increased on an annual basis, prices dipped by 0,4% between July and August. Several chicken and beef products were cheaper in the month, with notable decreases recorded for fresh whole chicken (down 2,2%), sausage (down 1,7%), chicken giblets (down 1,3%) and beef mince (down 1,3%). On the other hand, bacon, beef extract, corned beef, fresh chicken portions, ham and biltong were more expensive.<\/p>\n Hot beverage inflation continues to burn. Despite the annual print slipping from 17,6% in July to 17,5% in August, it remains the group with the highest rate among all food & NAB categories. Instant coffee inflation hit a 19-month high at 22,3%. The average price for 250\u00a0grams of instant coffee was R67,37 in August\u00a02024, up from R52,71 in August\u00a02023.<\/p>\n The graphs below show food and beverage products that recorded the most significant annual and monthly price increases in August.<\/p>\n Other notable price changes<\/strong><\/p>\n Following the consumer price index (CPI) results in July,3<\/sup> Stats SA completed its survey of municipal service charges in August. Electricity tariffs increased by a monthly 0,1%, taking the annual rate to 11,5%.<\/p>\n For more information, download the August 2024 CPI statistical release and associated Excel files with indices and average prices here<\/a>. The archive is available here<\/a>.<\/p>\n <\/p>\n 1 <\/sup>Department of Mineral Resources and Energy. Comparing prices for petrol, diesel and illuminating paraffin (IP) <\/em>(click here<\/a>).<\/p>\n 2 <\/sup>Stats SA, CPI_Average Prices_All urban(202408)<\/em> Excel file.<\/p>\n 3 <\/sup>Read more on the latest municipal tariffs 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":" Consumer inflation slowed for a third consecutive month, cooling to 4,4% in August from 4,6% in July. This is the lowest inflation print since April\u00a02021 when the rate was also 4,4%. Lower annual rates were recorded for several product groups, most notably transport, housing, and restaurants & hotels. In contrast, inflation for food & non-alcoholic read more »<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n