South Africa's annual consumer price inflation hit 5.9% in December 2021 - the highest annual rate since March 2017, when it increased by 6.1%. The inflation rate climbed from 5.5% in November. Prices of food and non-alcoholic beverages increased by 5.5% in the year to December, while transport prices jumped by a whopping 16.8%, fuelled by rising petrol and diesel prices. Last year, the price of 95 unleaded petrol rose from below R15 in inland regions at the start of 2021 to above R20/litre by December. The average annual consumer price inflation for 2021 was 4.5%, compared to the average rate of 3.3% in 2020.

Source: News 24 January 19, 2022 13:28 UTC