Inflation down in November, however meals is up

Listed below are the merchandise behind larger meals inflation.

Inflation slowed to five.5% in November after three months of will increase, primarily because of decrease gasoline costs and subsequently decrease transport costs.

Nevertheless, annual meals inflation accelerated to a four-month excessive of 0.9%.

In keeping with Stats SA, the drivers behind the excessive annual inflation for meals & non-alcoholic drinks have been the costs of meat and rooster in addition to eggs and fruit.

Family upkeep companies elevated by 7,5%, whereas the costs of assorted medicines additionally elevated.

The month-to-month change within the shopper value index was -0,1%. The decline was primarily pushed by a month-to-month lower of 5.5% within the gasoline value index, which drove the annual fee for gasoline decrease to 1.8% in November from 11,2% in October, resulting in a discount within the annual fee for transport, which decreased to 4.3% from 7.4%.

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Meals and non-alcoholic drinks inflation nonetheless excessive

Nevertheless, Inflation for meals and non-alcoholic drinks nonetheless hit customers’ pockets. Meat inflation crept as much as 3.5% from 3.4% in October as meat costs often enhance presently of 12 months.

The outbreak of avian flu continued to disrupt the poultry market, with the annual fee for particular person fast frozen rooster items growing by 7.3% in November, up from 5.5% in October. Different frozen rooster costs elevated by 9.1% in November.

Additionally as a result of avian flu, egg costs continued to boil, heating by a month-to-month 10.6%. Pushing the annual fee for eggs larger to 39.9% from 24.4% in October. That is unhealthy information for customers who often depend on rooster and eggs for protein as they’re unable to afford meat.

As well as, fruit merchandise recorded an annual enhance of 11.5% in November, the very best studying since December 2020 when the speed was 11.8%.

Customers with a candy tooth additionally didn’t get off flippantly. The annual print for sugar, sweets and desserts was 18.,5%, up from October’s 17.6%. White sugar costs elevated by 21.4% within the twelve months to November, whereas the worth of brown sugar elevated by 23.7% and the worth of chocolate slabs by 11.8%.

The value index of scorching drinks elevated by 11.4% within the twelve months to November. Aside from August, the annual inflation fee for immediate espresso was in double digit territory since March 2022.

ALSO READ: Inflation spikes to five.4% amid hovering gasoline and meals prices

Costs of bread and cereals and onions down

Luckily, there have been some meals costs that decreased. Annual inflation for bread and cereals declined for the seventh consecutive month to eight.5% from 8.8% in October. Vegetable inflation additionally eased barely to 23.5% from 23.6% in October.

The costs of onions declined for a fifth straight month, reducing by 6.1% in November in comparison with October. Consequently, the annual fee for onions cooled to 2.5%, a lot decrease than the eye-watering peak of 64.5% recorded in June.

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Customers forking out extra for plumbers and electricians

Different notable value modifications in November included family upkeep companies, that embody charges for plumbers and electricians, whose charges are surveyed in Could and November. This class registered an annual fee of seven.4% in November, the very best fee for the reason that present CPI sequence started in 2008.

Pharmaceutical merchandise additionally recorded an annual value enhance of seven.5%, with non-prescription drugs merchandise registering excessive inflation charges. The costs of vitamin and mineral dietary supplements elevated by 13.2%, heartburn medicine by 12.6%, ache killers by 12.3% and cough syrup by 10,3%.

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