Inflation up marginally

NOVEMBER: ECONOMISTS EXPECTED INCREASE

- Ina Opperman

Annual consumer price inflation increased marginally in November to 2.9% from 2.8% in October, coming in lower than the expectations of economists of inflation increasing to as much as 3.3%.

According to Statistics SA, the Consumer Price Index (CPI) remained unchanged month-on-month in November. Inflation is a general increase in the prices of goods and services, while the CPI is a way to measure inflation.

The main contributors to the 2.9% inflation rate were:

> Housing and utilities that increased by 4.7% and contributed 1.1 percentage points;

> Miscellaneous goods and services that increased by 6.6% and contributed 1.0 percentage point;

> Food and non-alcoholic beverages that increased by 2.3% and contributed 0.4 of a percentage point; and,