Food and non-alcoholic beverage inflation eases to 3.9% in October - Stats SA

Stats SA reports that annual inflation for food and non-alcoholic beverages weakened substantially to 3.9% in October, down from 4.5% in September.

Several categories saw a slowdown, including vegetables, fruits and nuts; cold and hot beverages; sugar, desserts; and meat.

Despite the slowdown, food and non-alcoholic beverages were the main contributors to the marginal uptick in the overall October inflation reading, contributing 0.7 of a percentage point to the overall consumer price index (CPI).

Chief director for price statistics at Stats SA, Patrick Kelly, said that meat inflation retreated from its highest level in almost eight years.

"Despite the lower reading, several meat products remain in double-digit territory, including stewing beef (30.9%), beef steak (27.9%), beef mince (27.1%), sausages (17.3%), boerewors (15.6%) and mutton (13.4%). Not all was bad news on the meat front, however. Corned meat, fresh whole chicken and bacon are cheaper than a year ago."

Kelly added that there were other items in the consumer basket still costing consumers more than they did a year ago.

"Categories that recorded faster price growth include cereal products; fish and other seafood; oils and fats; milk, other dairy products and eggs; and the miscellaneous group 'other food.'"