These are the staples that are driving food inflation up – Stats SA



As the country waits with bated breath to see if the South African Reserve Bank (Sarb) will hike the repo rate on Thursday, which looks more than likely, Stats SA said dairy product prices are among the food categories that continue to rise reach high levels of inflation.

Here’s what you need to know.

Food inflation in SA

milk, eggs and cheese

The latest figures showed that milk, eggs and cheese saw an annual increase of 10.5%.

This is the highest rate since February 2017, which was 10.7%.

WATCH: Consumer Price Inflation (CPI)

In the latest report from Stats SA, figures also showed that consumer price inflation (CPI) currently stands at 7.6% in October, up from 7.5% in September.

Stats SA chief Patrick Kelly said food and transportation costs are among the top drivers of the rise in annual inflation.

“Bread and grains, meat and dairy are the main product groups driving food inflation, which rose to 12% from 11.9% in September.”

“The bread and cereals category continues to see high levels of inflation, with the annual rate rising to 19.5% from 19.3% last month.”

ALSO READ: Inflation Rises and Repo Rate Likely to Follow, Up 75 basis points

gas price

Kelly also said that lower gasoline prices had caused the fuel index to fall for the third straight month.

“This brought the annual rate for fuel to 30.1% in October from 34.1% in September, further declining from the peak of 56.2% recorded in July.”

“A liter of unleaded 95-octane petrol (domestic) cost R22.36 in October, down from the record high of R26.74 in July.”

Health insurance

Kelly added that health insurance premiums also increased 4.8% in October 2022 compared to October 2021, higher than the 3.5% annual figure recorded in September.

Other notable price changes in October

Statistics SA Inflation also continued to rise for household detergents, with washing powder reaching an annual rate of 30.3% and dishwashing liquid 16.2%.

“Bath soap prices rose 21.3% and toothpaste prices rose 20.8% in the 12 months to October,” it said.

ALSO READ: Almost half of SA consumers don’t hesitate to lie for loans and insurance claims

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