CPI rises in December

2014-01-22 14:19

The consumer price index, which is used to measure inflation, rose to 5.4% year on year in December from 5.3% in November. The increase was smaller than forecast, and could be explained by food prices putting less pressure on the inflation rate than expected.

Statistics SA recorded a decrease of 0.1% in the food and non-alcoholic beverages index between November and December.

However, the transport index rose 0.8% between the two months, driven largely by a fuel price increase of 17c a litre.

The weak rand is expected to continue to drive commodity prices higher after a fuel price hike earlier this month.

The average inflation rate last year was 5.7%.

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