Inflation ticks up in July as lockdown restrictions ease

0:00
play article
Subscribers can listen to this article
July inflation increased to 3.2%.
July inflation increased to 3.2%.
Getty Images

July's annual consumer inflation increased by 3.2% as lockdown restrictions eased, according to data released by Stats SA on Wednesday. 

June's annual consumer price index was just 2.2%.  Inflation is now back in the 3% to 6% target range for the first time since April.

The main contributors to July's print were food and non-alcoholic beverages, housing and utilities, miscellaneous goods and services.

On a month-on-month basis, inflation picked up 1.3% from June. 

These changes were largely driven by fuel prices and municipal tariffs. The price of petrol increased by R1.72/l in July. Fuel was still 6.2% cheaper than the same time last year, said Stats SA.

Most municipalities also introduced revised tariffs for water, electricity and municipal rates in July.  The increases were, on average, lower than those recorded in 2019. 

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Rand - Dollar
14.01
+0.6%
Rand - Pound
19.87
+0.3%
Rand - Euro
17.12
+0.1%
Rand - Aus dollar
10.91
+0.4%
Rand - Yen
0.13
+0.4%
Gold
1,869.91
+0.2%
Silver
28.19
+0.0%
Palladium
2,907.50
+0.2%
Platinum
1,222.00
-1.8%
Brent Crude
69.46
+1.1%
Top 40
61,190
-0.0%
All Share
67,255
+0.1%
Resource 10
70,784
+0.2%
Industrial 25
83,774
-0.3%
Financial 15
12,689
+0.6%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1489 votes
No, I did not.
52% - 3684 votes
My landlord refused
27% - 1960 votes
Vote