South Africa’s year-on-year consumer inflation declined to 7.2 percent in December 2022, the second time in as many months that annualised price increases have eased.Official figures published by Statistics South Africa (Stats SA) on Wednesday showed that annual inflation edged lower from 7.4 percent in November and 7.6 percent in October. 

“The main contributors to the 7.2 percent annual inflation rate were food and non-alcoholic beverages; housing and utilities; transport; and miscellaneous goods and services,” Stats SA said.

The annual inflation rate for goods was 10.1 percent, down from 10.4 percent in November, while that for services was 4.3 percent, down from 4.5 percent in November.

Month-on-month inflation increased by 0.4 percent in December from the previous month.