Municipal rates in South Africa increased this year, with electricity tariffs increasing the most.
Annual inflation for food and non-alcoholic beverages declined for a fifth straight month, softening from 9.9% in July to 8.0% in August. Except for fruit, all food and NAB categories recorded lower annual rates in August.The bread and cereals category registered an annual rate of 9,9%, lower than July’s reading of 13,1%. Several products were cheaper in August compared with July, including white bread, brown bread, maize meal and cereals.
The decline in meat inflation is good news for consumers, who have been struggling with rising food prices in recent months. It is also a sign that the supply of meat is improving, which could possibly lead to lower prices in the future.The milk, eggs and cheese category followed the same script as meat prices. The annual rate eased from 14,4% in July to 11,9%. A number of products registered lower prices in August compared with July, including fresh full-cream milk, eggs and cheddar cheese.
Sugar, sweets and desserts registered the highest annual inflation rate among all food & NAB categories. This was slightly cooler than July’s print of 18,7%. Jam and chocolate slabs were cheaper in August compared with July, while prices for brown sugar, white sugar and ice cream continued to rise. Annual inflation for alcoholic beverages slowed to 6,9% from 7,8% in July. Beer prices subsided by 0,8% in August compared with July. For wine drinkers, prices declined by 0,3% over the same period.According to Stats SA, municipal rates in South Africa increased this year, with electricity tariffs increasing the most, followed by water tariffs and property rates.Electricity tariffs increased by 15.3% in 2023, much higher than the 7.9% rise recorded in 2022. Households paid 9.
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