Money and Markets

Petrol is nearly a quarter more expensive than last year – but package holidays and phones are getting cheaper

Business Insider SA
Petrol vs holiday
  • The latest inflation data shows prices were up 5.2% in November compared to last year – on average.
  • The fuel price increase over the course of the past year now officially stands at 23.1%.
  • There was a little price relief elsewhere, though, most notably in the cost of phones, fruit, and package holidays.

Compared to the previous year South Africans paid 23.1% more for fuel in November, Statistics South Africa said in official consumer price index (CPI) data released on Tuesday.

That helped to pus the cost of private transport up by 19.2%, year on year.

By contrast, public transport was not hit nearly so hard by the huge increases in the price of petrol and diesel; average public transport costs were up 6.8% for the year.

Other categories of goods and services largely remained within one percentage point of the 3% to 6% target band for inflation overall with education inflation coming in at 6.7%, financial services costing 6.5% more, and annual food inflation coming in at 2.8%.

Price reductions were few and far between – if sometimes large.

Telecommunications equipment, StatsSA said, was 13% cheaper than a year ago, as electronics and phones in particular continue to decline in price. Within the food category, fruit was 3.7% cheaper as the final effects of the drought in the Western Cape in particular abated.

Also cheaper: package holidays, which declined 2.2% in price for the year so far, even though hotels were on average, 2% more expensive.

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