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S/Africa: CPI rate pegged at 3.1 percent

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South Africa’s consumer price inflation (CPI) rate for December 2020 was pegged at 3.1% year-on-year rate, according to Statistics South Africa (Stats SA) on Wednesday.This was slightly lower than the year-on-year rate from the 3.2 percent rate recorded in November 2020, Stats SA said.

 

The agency added that on a month-on-month basis, the CPI was up at 0.2 percent in December compared with 0% in November.

 

The main driver of inflation in December were in food and the non-alcoholic beverages category, with a monthly increase of 0.5 percent and an annual rise of 6.0 percent, it added. 

 

This, however, was up from November’s annual reading of 5,8 percent, Stats SA said.


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