Statistics South Africa ((StatsSA) information from census 2022, indicated some of the drivers of inflation in South Africa.
Inflation was at 5,1% in June 2024, and decreased slightly to 4,6% in June of the same year.
Lower annual rates were recorded for several product groups, such as food & non-alcoholic beverages (NAB), transport, housing and utilities.
The monthly increase in June, in the consumer price index (CPI) was 0,4%, higher than the previous month.
The housing and utilities index increased by 2,6% between June and July, leading to an annual increase of 5,3%.
This contributed 1,3 percentage points to the overall inflation rate.
Tariff hikes were lower in 2024, but electricity tariffs increased by 12,1% (compared with 15,3% in 2023), water tariffs by 7,5% (compared with 9,6% in 2023) and property rates by 10,7% (compared with 8,4% in 2023).
A look at tariffs over time, shows electricity prices has risen the fastest, over the last 15 years.
Electricity tariffs recorded an average growth rate of 10,5% per year from 2009 to 2024, outpacing water tariffs (up by an average of 10,2% per year) and property rates (up by an average of 6,8% per year).
In the last 10 years, water tariffs have risen the most, increasing by an average of 9,9% per year.
Electricity tariffs increased by an average of 9,5% per year, and property rates by an average of 6,6%.
A five-year analysis of the data, from 2019 to 2024, shows electricity tariffs outpacing water and property rates, growing by an average of 11,2% per year.
These figures were collected from 39 municipalities surveyed by StatsSA.