Uptick in fuel price could cost consumers at the tills in first quarter

FUEL PRICE inflation is set to continue to elevate headline CPI inflation in the first quarter of this year, says Investec economist Kamilla Kaplan. African News Agency (ANA)
JOHANNESBURG – Consumers might have to fork out a little more at the tills in the first three months of this year, as the fuel price is expected to continue pushing up headline Consumer Price Index (CPI) inflation.

Statistics South Africa (StatsSA) reported yesterday that the CPI edged higher to 4percent year-on-year in December from a low of 3.6percent in November.

This was mainly due to a higher fuel price inflation.

The hike was in line with market expectations.

In December, the price of 95 octane unleaded petrol rose by 22cents a litre, while that of diesel dropped by about 15c a litre. In January, petrol dropped 14c a litre.

Source: iol.co.za