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Year-on-Year Inflation for December 2024 at 16.7 Percent
Annual inflation for December 2024 increased to 16.7 percent from 16.5 percent recorded in November, 2024. This means that on average, prices of goods and services increased by 16.7 percent between December 2023 and December 2024 (see Figure 2). This development was mainly attributed to price movements in both food and non- food items.
Figure 2: Annual Inflation Rate, December 2023 – December 2024 (%)
Annual Food and Non-Food Inflation
Annual food inflation for December 2024 was recorded at 18.6 percent compared to 18.2 percent in November 2024 (see Figure 3). This means on average prices of food items increased by 18.6 percent between December 2023 and December 2024. This was mainly attributed to increases in prices of food items such as Bread and cereals (Breakfast Mealie Meal, Roller Mealie Meal, Maize grain, Samp, Rice Local, Rice Imported, Bread, Bun, Bread Flour Imported); Meat (Fillet Steak, Rump Steak, Brisket, Mixed Cut, T-bone, Beef sausage, Mince Meat, Oxliver); Cooking oil, Eggs and Dried beans.
The annual non-food inflation for December 2024 was recorded at 14.2 percent compared to 14.1 percent in November 2024. This outturn was mainly attributed to price movements in prices of non-food items such as Purchase of Motor Vehicles (Toyota Hilux, Toyota corolla, Nissan ALMERA 1.5 L Acenta MT, Nissan Pick (Nissan Hardbody)); Passenger transport by air; Fuel (Petrol & Diesel); Cold beer Hotel and Hammer milling charge.
Figure 3: Annual Food and Non-Food Inflation, December 2023- December 2024 (%)
