Coffee maintained the highest inflation rate across all food and non-alcoholic beverage (NAB) categories.
The price of instant coffee reached its highest point in 19 months in August 2024, increasing by 22.3% compared to the previous year. Image: PexelsThe price of instant coffee reached its highest point in 19 months in August 2024, increasing by 22.3% compared to the previous year. Image: Pexels
Although the annual rate slightly decreased from 17.6% in July to 17.5% in August, it remains the highest in the group. Instant coffee inflation hit a 19-month peak at 22.3%. In August 2024, the average price for 250 grams of instant coffee reached R67.37, compared to R52.71 in August 2023.Annual food and non-alcoholic beverage inflation rose to 4.7% in August, up from 4.5% in July, following an 8-month downward trend.
Hot beverage inflation continues to burn. The annual rate for instant coffee hit a 19-month high in August 2024.This data highlights the importance of monitoring food inflation trends, as price fluctuations impact consumers’ ability to afford everyday essentials.The funeral service of ANC veteran and MP Pravin Gordhan will be held on Thursday, 19 September. Watch the proceedings live..
The mid-month data remains positive that some more good news awaits South Africa’s motorists in October 2024. Here are the latest numbers …
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