Oils and fats inflation analysis for Jan 2025
Oils and fats key statistics
What is happening to Oils and fats prices? 📈
Speeding Up or Slowing Down?
Year-on-year Oils and fats inflation rate vs CPI headline
Highlights
What happened to Oils and fats prices over the last twelve months?
Oils and fats prices have increased by 2,8% over the last 12 months. This compares to overall consumer inflation (as measured by CPI) of 3,2%.
How does Oils and fats price inflation compare to headline CPI and other major sectors?
| Basket | 12m change | |
|---|---|---|
| 1 | Hot beverages | 13,7% |
| 2 | Medical industry - Medical insurance | 10,3% |
| 3 | Education services - University boarding fees | 8,2% |
| 4 | Medical industry - Dentists | 8,1% |
| 5 | Cold beverages | 5,9% |
| 6 | Sugar, confectionery and desserts | 5,7% |
| 7 | Medical industry - Hospital services | 5,3% |
| 8 | Medical industry - Doctors | 4,7% |
| 9 | Spirits and liqueurs | 4,5% |
| 10 | Housing - Actual rentals-Town houses | 4,4% |
| 11 | Fish and other seafood | 4,2% |
| 12 | Domestic services | 4,1% |
| 13 | Wine | 3,8% |
| 14 | Cereal products | 3,8% |
| 15 | Housing - Owners equivalent rent-Town houses | 3,5% |
| 16 | Beer | 3,5% |
| 17 | Housing - Actual rentals-Flats | 3,3% |
| 18 | CPI Headline | 3,2% |
| 19 | Housing - Owners equivalent rent-Flats | 2,8% |
| 20 | Oils and fats | 2,8% |
| 21 | Vehicles - New vehicles | 2,7% |
| 22 | Other services | 2,6% |
| 23 | Housing - Actual rentals-Houses | 2,2% |
| 24 | Housing - Owners equivalent rent-Houses | 2,1% |
| 25 | Other food | 2,1% |
| 26 | Fruits and nuts | 2,1% |
| 27 | Milk, other dairy products and eggs | 1,7% |
| 28 | Vegetables | 0,7% |
| 29 | Meat | -0,5% |
| 30 | Vehicles - Used vehicles | -0,8% |
| 31 | Fuel | -4,5% |
Oils and fats ranks 20 out of 31 major sectors, with a 2,8% price increase over the past 12 months. This is below the overall consumer price inflation rate of 3,2%, indicating that Oils and fats prices are rising slower than most other consumer goods and services.
Is Oils and fats price inflation accelerating or slowing down?
What was the inflation rate in Oils and fats in previous month?
Previous, year-on-year inflation in Oils and fats came in at 2,3% (Invalid Date). The most recent year-on-year inflation rate for Invalid Date was 2,8%. That means, we have seen a cost acceleration compared to the previous 12 months.
How has the inflation rate in Oils and fats changed over the last two years?
If we look back over a longer period, we see that Oils and fats year-on-year inflation has been averaging -1,6% over the past 2 years. The most recent year-on-year inflation rate for Invalid Date was 2,8%. That means, Oils and fats most recent year-on-year price inflation of 2,8% is below the average inflation rate of 6,3% over the past 2 years. The trend is up.
How does 2,8% in Oils and fats inflation compare historically? Has Oils and fats inflation been higher or lower historically?
How much did Oils and fats cost 1 year, 2 years, 5 years and 10 years ago?
| Period | Rand amount | Total Change |
|---|---|---|
| Current | 1 000 | - |
| 1 year ago | 973 | 2,8% |
| 2 years ago | 1 028 | -2,7% |
| 5 years ago | 639 | 56,6% |
| 10 years ago | 500 | 100,2% |
Costs relating to Oils and fats which cost R1,000 today would have cost you R973 one year ago, R1 028 two years ago, and R639 five years ago. This shows how the purchasing power of your money has declined over time due to inflation in Oils and fats prices.