South Africa’s annual consumer inflation increased to 3% in December, up slightly from 2.9% in November. The key contributors to this rise were housing and utilities, miscellaneous goods and services, food, and non-alcoholic beverages. Statistics South Africa’s Patrick Kelly noted that the average inflation rate for 2024 was 4.4%, a decrease compared to the 6% recorded in 2023.
“In 2024, vehicle inflation saw a notable decline, starting the year at 7.2% in January. By December, the cost of used vehicles had dropped by 0.6% compared to the previous year. Meanwhile, fuel prices increased by 1.1% between November and December,” Kelly added.
VOC News
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