The main factor behind the increase was the transport category, which recorded an annual increase of 16.8% in December
Consumer inflation rose to its highest level in five years in December, backing the case for a potential increase in interest rates as soon as next Thursday when the Reserve Bank’s monetary policy committee sits down for its first scheduled meeting of 2022.
Consumer price inflation, as measured by Stats SA’s consumer price index , hit 5.9% year on year in December, its biggest annual increase since March 2017 when the rate was 6.1%, the data showed on Wednesday. On month-on-month basis, CPI rose 0.6%...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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