2014 kicked off with an acceleration in the inflation rate to 5,8% from the 5,4% recorded in December last year.\u00a0 A 3% monthly increase in the petrol price was the biggest factor driving the change.\u00a0 Annual petrol inflation now stands at just under 15%.<\/p>\n
Food prices rose by 1,6% between December and January, mainly driven by price increases in unprocessed food which increased by 2,7%. Meat prices, which fell during much of 2013 but started rising again in September, shot up by a further 2% between December and January.<\/p>\n
Beef prices increased by 3,1% and frozen chicken portions by 1,5% in January. Maize meal prices leapt by 3,3% in the month. Vegetables, the prices of which are volatile, had an annual inflation rate of 6,3% – one of the highest of the main food groups.\u00a0 Potatoes (15,6%), pumpkins (12,3%) and carrots (10,5%) had especially high annual price increases.<\/p>\n
A number of banks change their service fees in January each year. On average bank fees showed a smaller increase than this time last year: 3,4% annual increase in 2014 compared with 5,4% in 2013.<\/p>\n
Download the full publication here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" 2014 kicked off with an acceleration in the inflation rate to 5,8% from the 5,4% recorded in December last year.\u00a0 A 3% monthly increase in the petrol price was the biggest factor driving the change.\u00a0 Annual petrol inflation now stands at just under 15%. Food prices rose by 1,6% between December and January, mainly driven read more »<\/a><\/p>\n