Inflation down while CPI up in September 2022

In its latest Consumer Price Index report, Stats SA confirmed that annual consumer price inflation was 7.5% in September 2022, down from 7.6% in August 2022.

Meanwhile, the consumer price index increased by 0.1% in September 2022.

According to the report, the main contributors to the 7.5% annual inflation rate were food and non-alcoholic beverages, housing and utilities, transport, and miscellaneous goods and services.

Food and non-alcoholic beverages increased by 11.9% year-on-year, and contributed 2.0 percentage points to the total CPI annual rate of 7.5%.

Housing and utilities increased by 4.2% year-on-year, and contributed 1.0 percentage point.

Transport increased by 17.9% year-on-year, and contributed 2.5 percentage points.

Miscellaneous goods and services increased by 4.0% year-on-year, and contributed 0.6 of a percentage point.

In September the annual inflation rate for goods was 10.7%, down from 10.9% in August, and for services it was 4.3%, unchanged from August.