Inflation up again in SA
2+$11(6%85* - Annual consumer inflation quicNened again in February, increasing to . from . per cent in -anuary and . per cent in 'ecember.
7he product categories driving much of the upward momentum include housing and utilities, miscellaneous goods and services (most notably insurance), food and non-alcoholic beverages and transport.
According to Statistics South Africa, medical aid premiums in the miscellaneous goods and services category increased . per cent in February compared to -anuary, taNing the annual rate for health insurance to 2. per cent. 3remiums for all types of insurance increased . per cent over the past year. Inflation for food and non-alcoholic beverages slowed to . per cent in February, with most categories recording lower annual rates, except for hot beverages and oils and fats.
7he rate for hot beverages was driven higher by annual price increases for instant coffee that increased 2. per cent blacN tea . per cent and 5ooibos tea by per cent. .
Territory
7he rate for oils and fats remained in negative territory, mainly due to a
2. per cent annual decline in the price of sunflower oil, but the fall in prices did not extend to the price of peanut butter, which increased in price . per cent since February 2 2 .
In addition, the lingering impact of rising egg prices continue to affect the milN, eggs and cheese category, with eggs .7 per cent more expensive than a year ago.
Although the current average price of a tray of six eggs at 52 . is less than its peaN in 'ecember 2 2 when it cost 52 . , it is still higher than in February 2 2 when it cost 52 . .
Annual rice inflation increased further to 2 per cent in February from 2 . per cent in -anuary. A Ng bag of rice would have set you bacN 5 . in February, sharply up from 52 . a year ago.
3i]]a and pies that also fall under the bread and cereals category with rice, also increased sharply by 7. per cent in the 2 months to February.
+owever, it was not all bad news in the bread and cereals category. Several products are now cheaper than a year ago, including bread flour (down .7 per cent), rusNs (down 2.7 per cent), ready-mix flour (down 2.2 per cent), pasta (down 2. per cent) and macaroni (down
. per cent).
Foods that became more expensive over the past year
3otatoes 2. per cent
Eggs .7 per cent
Sweet potatoes 27.
5ice 2 . per cent
%rown sugar 2 . per cent White sugar 2 . per cent Condensed milN . per cent %roccoli 7.7 per cent
3i]]a or pies . per cent
7he transport category registered an annual increase of . per cent, driven higher mainly by increases in vehicle and fuel prices. per cent