Higher inflation numbers bad news for Xmas festive season

Rising prices threaten braais and property market

- By Mzwandile kaBizokwakhe

In a devastating one-two punch to the South African way of life, the latest Stats SA inflation data has revealed a dual crisis: the sacred braai is under direct economic assault, and the dream of homeownership is being priced out of reach by the very roofs meant to protect it.

The Consumer Price Index (CPI), that dreaded barometer of budgetary pain, has inched up to 3.4%, moving away from the basement of the 3%-6% of the South African Reserve Bank's target range, and leaving citizens to choose between a decent chop and a decent mortgage.

The statistics, delivered with the grim finality of a load-shedding schedule, reveal a nation at a culinary crossroads. Inflation accelerated in several product categories, particularly in transportation and restaurants and accommodation, while food and nonalcoholic beverages (NAB) presented mixed results.

For NAB, inflation eased to 4.1%, down from 4.9% while in September last year, the number stood at 9.5%. Hot beverage inflation moderated slightly to 9% from 10% in August, significantly lower than the 15.8% recorded a year ago.