Electricity prices increased at a 10,5% rate every year for 15 years.
This emerged from data for electricity, water and property rates, shared by Statistics South Africa, this week.
Stats SA surveys electricity, water and property rates in 39 municipalities, totalling 117 prices. The bulk of these were captured in July.
Overall, the housing & utilities index increased by 2,6% between June and July this year (2024), 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.
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).
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 about of 6,6%.
A five-year analysis of the data, from 2019 to 2024, shows electricity tariffs outpacing water and property rates, at about 11,2% per year.