South Africa's CPI Inflation Rises to 3% in December

South Africa's consumer price inflation (CPI) rose to 3% in December, up from 2.9% in November, marking the second consecutive month of increases. Chief Director Patrick Kelly from Statistics South Africa noted that food and non-alcoholic beverages saw inflation rise to 2.5%, while the price index for bread and cereals remained steady at 3.7%. The latest figures suggest that inflation is still below economists' expectations, which could create an opportunity for policymakers to consider interest rate cuts in the upcoming month. Additionally, the overall annual inflation rate averaged 4.4% for the previous year. Month-over-month inflation for December was reported at 0.1%, slightly up from 0.0% in November. These trends indicate ongoing fluctuations in various sectors, including housing and food services, which could impact economic decisions moving forward.