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South Africa’s annual consumer price inflation hit 5,9 percent in December 2021 – the highest annual rate since March 2017, when it increased by 6,1 percent.
The inflation rate climbed from 5,5 in November.
Prices of food and non-alcoholic beverages increased by 5,5 percent in the year to December, while transport prices jumped by a whopping 16,8 percent, fuelled by rising petrol and diesel prices.
Last year, the price of 95 unleaded petrol rose from below R15 in inland regions at the start of 2021 to above R20/litre by December.
Diesel rose from R13 to almost R18/litre.
The average annual consumer price inflation for 2021 was 4,5 percent, compared to the average rate of 3,3 percent in 2020. — Bloomberg
Online Reporter