S. Africa’s CPI down in August ’24

South Africa’s headline Consumer Price Index (CPI) for all urban areas reported an annual inflation rate of 4.4 per cent in August 2024, a decline from 4.6 per cent in July 2024. The CPI increased by 0.1 per cent month-on-month (MoM) in August. Additionally, the inflation rate for services decreased to 4.5 per cent from 4.7 per cent in July, reflecting a slower rate of price increases in this sector.

The main contributors to the annual inflation rate were housing and utilities, which rose by 4.8 per cent and contributed 1.1 per cent; miscellaneous goods and services, increasing by 7.0 per cent and contributing 1.0 per cent; food and non-alcoholic beverages, up by 4.7 per cent and contributing 0.9 per cent; and transport, which saw a 2.8 per cent rise and contributed 0.4 per cent.

Attribution: South Africa’s Consumer Price Index August 2024

Subediting: M. S. Salama