CPI breaches SA Reserve Bank inflation midpoint, but experts say rates to remain unchanged
Statistician-General Risenga Maluleke said the change in the CPI between July 2021 and August 2021 was 0.4%.
Maluleke said petrol prices recorded all-time highs in August 2021, with the price of inland 95-octane petrol, for example, reaching R18.30 per litre.“Public transport fares registered an increase of 1.5% between July and August, underpinned by a rise in airfares . The annual increase for public transport was 5.3%,” said Maluleke.
The agency saw a decline of 0.5% from July 2021 for bread and cereal prices. Maize meal prices also decreased by 1.2% and white bread by 1.1%, he said.“This is the highest level since February 2018, when the rate was 11.4%,” said Kelly. “Staple foods such as bread and cereals rose 14.2 percentage points trough to peak, from 3.2% in June 2015 to 17.4% in December 2016,” she said.
However, Sithole said the timing of the start of the hiking cycle is difficult to predict, but the Reserve Bank has maintained that it will remain data-dependent.
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