Annual consumer price inflation at 7,2% in December

Stats SA confirmed that the annual consumer price inflation was 7,2% in December 2022.

This is down from 7,4% in November 2022. The consumer price index increased by 0,4% month-on-month in December 2022.

The main contributors to the 7,2% annual inflation rate were food and non-alcoholic beverages; housing and utilities; transport; and miscellaneous goods and services. 

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Food and non-alcoholic beverages increased by 12,4% year-on-year, and contributed 2,1 percentage points to the total CPI annual rate of 7,2%. 

Housing and utilities increased by 4,1% year-on-year, and contributed 1,0 percentage point. 

Transport increased by 13,9% year-on-year, and contributed 2,0 percentage points. 

Miscellaneous goods and services increased by 4,9% year-on-year, and contributed 0,7 of a percentage point.

In December the annual inflation rate for goods was 10,1%, down from 10,4% in November; and for services it was 4,3%, down from 4,5% in November.

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Annual average headline consumer price index for 2022  Average annual consumer price inflation was 6,9% in 2022 (i.e. the average CPI for all urban areas for 2022 compared with that for 2021).

This was 2,4 percentage points higher than the corresponding average of 4,5% in 2021.  

*Updates to follow