DStv Channel 403 Saturday, 16 November 2024

Inflation dips again but food prices rise

Food prices

JOHANNESBURG - Consumer inflation has dipped for a third consecutive month.

But food prices -- kept high partly by the power crisis -- continue to rise.

Annual consumer inflation came in at 6.9 percent in January from 7.2 percent in December.

READ: Farmers fear food security threats due to power cuts

However, food inflation has hit the highest rate since 2009.

Analysts say the inflation figure is still not low enough for the Reserve Bank to consider cutting interest rates.

One economist blames power cuts for keeping food prices higher.

Paid Content