The inflation rate is falling, but food prices are still rising and SA is tightening its belt

While South Africa’s headline inflation rate cooled in November, falling 0.2 percentage points to 7.4% compared to last year, food price inflation accelerated by a seventh consecutive month, while transport recorded its fourth consecutive month of deflation. The three categories with the highest annual inflation rates in November were transportation (15.3%), food and non-alcoholic beverages (12.5% ​​vs. 12.0% in October), and hotels and restaurants ( 7.9%). The main driver of the increase in food and non-alcoholic beverages was bread and cereal inflation, which reached an annual rate of 19.9% ​​in November, up from 19.5% in October, mainly. .

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