The food and non-alcoholic beverages category was the main driver of inflation in December 2020. Stock photo. Image: 123RF/RICHARD THOMAS
The food and non-alcoholic beverages category was the main driver of inflation in December 2020, Statistics SA (Stats SA) announced on Wednesday.
Consumer price inflation was 3.1% in December, down from 3.2% in November, Stats SA said.
It said food and non-alcoholic beverages increased by 6% year-on-year, and contributed one percentage point to the total consumer price index annual rate.
It said three food groups recorded above average annual and monthly price increases in December.
Stats SA said meat prices rose by 7.3% from a year ago and by 1.2% from November. Stewing beef was 2.9% more expensive than it was in November last year and 12.4% more expensive than in December 2019.
Statistics South Africa has released the Consumer Price Inflation (CPI) rate for December, which came in slightly lower at 3.1% year-on-year from 3.2% in November.
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Updated Jan 12, 2021 | 23:19 IST
December CPI a positive surprise led by substantial fall in food inflation, core CPI likely to remain sticky & rising crude prices a concern; India growth recovery uneven yet and may require further stimulus. Representational Image | Photo Credit: IANS
Key Highlights
Lower CPI inflation was led by a favorable base and also significant drop in vegetable and food prices
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Industrial recovery continues to be uneven and fragile and will require the stimulus support to stay in momentum
India Consumer Price Inflation (CPI) for the month of December eased to near 15 month low at 4.59% and November Index of Industrial production data (IIP) was contracted 1.9% largely on expected lines. CPI was far lower than consensus expectations of about 5% and came in as a positive surprise. This is after April 2020 that C