JOHANNESBURG - South Africa’s annual consumer price inflation ticked up slightly in December, rising to 3.6 percent from 3.5 percent in November, according to Statistics South Africa.
While overall inflation remains contained, food prices continue to put pressure on household budgets, particularly meat and non-alcoholic beverages.
Economists say these figures will be closely watched ahead of the next South African Reserve Bank policy announcement, as policymakers balance price stability and growth concerns.
Inflation for food and non-alcoholic beverages was stable at 4.4 percent in December.
However, meat prices continued their upward trajectory, with annual meat inflation rising to 12.6 percent, up from 12.2 percent in November.
Beef prices remain especially high. Beef steak inflation climbed from 28.4 percent in November to 29.4 percent in December.
Other red meat products also recorded sharper price increases, including sausages (19.4 percent), boerewors (18.2 percent), mutton (15.0 percent) and pork (11.5 percent).
Inflation for cereal products rose to 2.1 percent in December from 1.7 percent in November. Price increases accelerated for key staples such as brown bread, white bread and spaghetti.
There was some relief for consumers as maize meal inflation slowed for a second consecutive month, easing to 9.5 percent from 9.9 percent in November.
The milk, dairy products and eggs category remained in deflation at minus 1.1 percent, driven largely by lower milk prices.
Cheese prices, however, continued to rise. Cheddar cheese inflation increased to 9.0 percent in December, up sharply from 4.9 percent in November.
Inflation for oils and fats slowed to 4.6 percent, with sunflower oil inflation easing to 6.2 percent. Olive oil prices were 8.0 percent lower than a year earlier.
Prices for non-alcoholic beverages rose by 4.2 percent in the 12 months to December, higher than November’s 3.7 percent.
Inflation for cold beverages increased notably, rising from 1.4 percent to 2.2 percent.