Statistics South Africa (Stats SA) announced on Wednesday that the annual Consumer Price Inflation (CPI) is 5.7% for February, which remained unchanged from the month before.
It said the main contributors to the inflation rate were food and non-alcoholic beverages, housing and utilities, transport, and miscellaneous goods and services.
Food and non-alcoholic beverage prices saw a notable increase of 6.4% year-on-year and contributed 1.1 percentage points overall.
Housing and utilities increased by 4.4% year-on-year and contributed 1.1 percentage points but transport increased by 14.3% year-on-year.
This has shown an increase in costs due to the rising fuel prices.
This will be taken into account on Thursday when the Reserve Bank’s monetary policy committee announces its decision on the repo rate with an increase expected.
-EWN
In other news – Social Media suggests Connie Ferguson and soccer legend Lucas Radebe would make a great couple – Photo
Mzansi soccer legend, Lucas Valeriu Ntuba Radebe and film industry mogul Connie Ferguson have sparked dating rumours on social media after posing for a Pledge Pink photoshoot.
Surprisingly, amongst a group of six, Twitter users picked the two familiar faces, Connie and Lucas who are pictured close to each other. And started assuming that they could be a thing. Learn More
