South Africa’s inflation rises for second consecutive month

South Africa’s consumer price inflation increased for the second straight month, climbing to 3% in December 2024 from 2.9% in November, according to the latest figures released by Statistics South Africa (Stats SA) on Wednesday (22 January).

The average inflation for 2024 stood at 4.4%, marking a continued downward trend from previous years.

Speaking on VOC Breakfast, Stats SA Chief Director Patrick Kelly highlighted several key factors contributing to these movements.

“These include food and non-alcoholic beverages, which rose to 2.5% from 2.3% the previous month,” said Kelly.

“Fuel prices, while about 10% lower than in December 2023, increased by 1% between November and December last year, following steady rises over the preceding months.”

Kelly also pointed to broader trends, noting the improvement in average inflation over the years.

“The average inflation rate of 4.4% reflects a positive downward trend compared to 6% in 2023 and 6.9% in 2022. However, predicting the inflation trajectory for 2025 remains challenging due to various economic factors.”

Listen to the full interview below:

VOC News

Photo: Pexels

Picture of Ragheema Mclean
Ragheema Mclean

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