Zuko Komisa

A two year low: Consumer inflation dropped to 4.7% in July from 5.4% in June.
The rate of annual consumer inflation fell to 4.7% in July from 5.4% in June, which was the lowest number since 4.6% was recorded in July 2021.
Consumer prices rose by 0.9% on average between June 2023 and July 2023, Statistics South Africa announced on Wednesday, up from the 0.2% monthly increase seen in both May and June.
Also Read: Carte Blanche presenter Derek Watts has passed
According to Stats SA, the transport sector—previously a significant contributor to inflation—helped to reduce overall inflation in July.
“In 2021 and 2022, overall inflation was mainly pushed higher by transport, as shown in the chart below. Headline consumer inflation hit a 13-year high of 7.8% in July 2022, with transport contributing 44% (3.4 percentage points) to the headline rate,” Stats SA said.
Annual consumer price #inflation slumped to 4,7% in July from 5,4% in June, the lowest reading in two years.
— Stats SA (@StatsSA) August 23, 2023
Listen here for more:https://t.co/tHikbj3pSs
#StatsSA #CPI pic.twitter.com/3mqEPkNQHz
Transport was a major contributor to #inflation in 2021 and 2022. In July 2023, #transport inflation turned negative on the back of falling #fuel prices, helping to pull #CPI inflation down.
— Stats SA (@StatsSA) August 23, 2023
Read here for more: https://t.co/oeTizOhajF
#StatsSA pic.twitter.com/MFti1zui6a
READ NEXT: Serena Williams gives birth to her second child: Adira River Ohanian



