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Annual consumer inflation dips to 6.9% in January 2023

 

Annual consumer inflation dips to 6.9% in January 2023
15-02-23 / Duty Editor

Annual consumer inflation dips to 6.9% in January 2023

Pretoria - Statistics South Africa (StasSA) has just announced that the annual consumer price inflation was 6,9% in January 2023, down from 7,2% in December 2022. The consumer price  index decreased by 0,1% month-on-month in January 2023.

Stats SA said the main contributors to the 6,9% annual inflation rate were food and non-alcoholic beverages; housing and utilities; transport; and miscellaneous goods and services. Food and non-alcoholic beverages increased by 13,4% year-on-year, and contributed 2,3 percentage points to the total CPI annual rate of 6,9%.

Housing and utilities increased by 4,1% year-on-year, and contributed 1,0 percentage point, while transport increased by 11,1% year-on-year, and contributed 1,6 percentage points, it said, adding that miscellaneous goods and services increased by 4,8% year-on-year, and contributed 0,7 of a percentage point.

In January the annual inflation rate for goods was 9,5%, down from 10,1% in December; and for services it remained unchanged at 4,3%, it concluded.

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