Statistics South Africa has announced that consumer price inflation has increased to 7.4% in June. It’s the highest rate in 13 years.
In May 2022, consumer inflation was still at 6.5%.
It confirms what South Africans already know, that the cost of living is currently rising faster than their salary can keep pace with.
The main contributors to the 7.4% annual inflation rate were food and non-alcoholic beverages; housing and
utilities; transport; and miscellaneous goods and services.
Food and non-alcoholic beverages increased by 8.6% year-on-year, and contributed 1.5 percentage points to the
total CPI annual rate of 7,4%.
Housing and utilities increased by 5.1% year-on-year, and contributed 1.2 percentage points.
Transport increased by 20% year-on-year, and contributed 2.7 percentage points.
South African consumer #inflation reached a 13-year high in June, registering at 7,4%. This was up from 6,5% in May.
Read more here: https://t.co/PuzppoArpS#CPI #StatsSA pic.twitter.com/cIKszzNkAK
— Stats SA (@StatsSA) July 20, 2022
