Consumer inflation took a breather in November, slowing to 5.5% from the previous month’s 5.9%, according to the latest data. The monthly change in the consumer price index (CPI) reflected a modest decline of -0.1%, driven by a substantial drop of 5.5% in the fuel price index. However, beneath the surface, certain sectors are experiencing mixed trends, with food and healthcare costs notably on the rise.

The primary driver of the overall decline was a significant monthly decrease in the fuel price index, leading to a substantial drop in the annual rate for fuel from 11.2% in October to 1.8% in November. Consequently, the annual rate for transport also decreased, falling to 4.3% from the previous month’s 7.4%.

On the flip side, the annual inflation for food and non-alcoholic beverages hit a four-month high at 9.0%. The meat inflation rate edged up to 3.5%, with avian flu continuing to disrupt the poultry market. Notably, IQF (individual quick frozen) chicken recorded a 7.3% annual rate in November, up from 5.5% in October. Non-IQF frozen chicken wasn’t far behind, registering an annual rate of 9.1%. Egg prices experienced a sharp spike, increasing by 10.6% monthly, leading to a substantial annual rate of 39.9%.

Fruit products saw an annual increase of 11.5% in November, marking the highest reading since December 2020. Sugar, sweets, and desserts also experienced an upward trajectory, with an annual inflation rate of 18.5%.

While some food categories witnessed an upward trend, others experienced moderation. Annual inflation for bread and cereals declined for the seventh consecutive month, easing to 8.5% from October’s 8.8%. Vegetable inflation also cooled slightly to 23.5% from 23.6% in October.

Onion prices, which had been on a downward trend for five consecutive months, decreased by 6.1% in November compared to October. Consequently, the annual rate for onions cooled to 2.5%, significantly lower than the peak of 64.5% recorded in June.

The report also highlighted notable price changes in November outside of the food sector. Household maintenance services, including rates for plumbers and electricians, saw an annual rate of 7.4%, the highest since the current CPI series began in 2008. Pharmaceutical products recorded an annual price increase of 7.5%, with non-prescription medicine products such as vitamin and mineral supplements, heartburn medication, painkillers, and cough syrup experiencing significant inflation rates.

As the economy navigates through these mixed signals, consumers and policymakers alike will be closely monitoring these trends to better understand the dynamics shaping the inflation landscape.