South Africa’s annual inflation rose from 2.2 percent in June to 3.2 percent in July, Statistics South Africa (Stats SA) said on Thursday.
According to Stats SA, the increase was the biggest monthly rise since February 2016 when the rate was 1.4 percent, adding that the monthly inflation move in July was driven largely by fuel prices.
Due to this period, “motorists felt the pinch as the price of inland 95-octane petrol climbed from US$0.80 per litre in June to $0.88 per litre in July.
“The average price for a litre of diesel jumped from $0.77 to $0.88,” Stats SA added.
In spite of the increases, the good news was that fuel prices in the country were still 6.2 percent cheaper in July than was the case in the same month last year, the agency said.
NM/as/APA