Zuko Komisa

In January, inflation increased to 3.2% year-over-year from 3.0% in December, which was below the 3.3% economists had predicted but still well within the 3%–6% range set by the South African Reserve Bank.
Kaya Biz spoke to Patrick Kelly, Chief Director for Price Statistics at STATS SA.
Listen to the conversation here:
In January, annual core inflation—which excludes volatile goods like food and energy—came in at 3.5%, as predicted by economists.
At the last three monetary policy meetings, South Africa’s central bank has lowered interest rates; however, its most recent action in January came after a divided vote that emphasized the unpredictability of the global environment.
The main contributors to the 3,2% annual inflation rate were:
- housing and utilities (4,5% and contributing 1,1 percentage points)
- food and non-alcoholic beverages (2,3% and contributing 0,4 of a percentage point)
- restaurants and accommodation services (4,9% and contributing 0,3 of a percentage point)
In January 2025, the annual inflation rate for:
- goods was 2,4%, up from 1,9% in December 2024
- services was 4,0%, down from 4,2% in December 2024
#𝐙𝐀𝐈𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 || Consumer price #inflation increased to 3,2% in January from 3,0% in December.
— Statistics South Africa (Stats SA) (@StatsSA) February 26, 2025
Download the release here: https://t.co/BPyyrp0zjx#StatsSA #ZACPI #GovZAupdates pic.twitter.com/0aqlxI4WQa
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