Zuko Komisa

December saw a an increase in annual inflation to 3% from 2.9% the previous month, raising the average annual consumer inflation for 2024 to 4.4%, Statistics South Africa (Stats SA) reported on Wednesday.
In December, the headline consumer price index increased by 0.1% on a monthly basis.
Housing and utilities (4.4%), other goods and services (6.6%), food and non-alcoholic beverages (2.5%), and tobacco and alcoholic beverages (4.3%) were the main drivers of the yearly inflation rate.
#ZAinflation || Consumer price inflation edged higher in December, rising to 3,0% from 2,9% in November.
— Stats SA (@StatsSA) January 22, 2025
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#StatsSA #ZACPI #GovZAupdates pic.twitter.com/l7yAmPxAMK
On Wednesday, Stats SA announced that it was add insurance and and financial services category to the key inflation indicators it monitors this month to keep in line with international standards.
“The new version aims to reflect changes in consumer expenditure patterns, including the impact of new technology. The greater details now available will improve the international comparability of economic data,” said Stats SA
In addition to raising concerns about the future for global inflation, the data is released one week before South African monetary policymakers meet to consider their most recent interest-rate situation.
Lesetja Kganyago, the governor of the Reserve Bank, stated this week that the policies being implemented by US President Donald Trump could cause inflation and impede further policy easing.
“To the extent that the measures taken are inflationary, it could slow down the disinflation process that central banks had so steadfastly worked on since the great inflation of 2022,” Kganyago said
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