# Petrol prices and panic sends inflation shooting up in South Africa – BusinessTech

> South African inflation rose to 5.9% in October 2023 from 5.4% in September, above market expectations. Food inflation accelerated, driven by egg and chicken panic buying and higher transport costs after fuel price increases.

- Date: 2023-11-22 · published 2023-11-22T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/33325-petrol-prices-and-panic-sends-inflation-shooting-up-in-south-africa-businesstech
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Chicken](https://feedsoft.ai/c/CHICKEN.md)

## Why it matters

Higher South African inflation reflects tight poultry supply and fuel costs, with a weaker rand possibly raising the cost of imported feed ingredients.

## Read by commodity

- DIESEL: bullish ▲
- CHICKEN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2022-04-29 | [Thailand inflation spike may tilt odds in favour of early rate hikes - The Business Times](https://feedsoft.ai/events/42084-thailand-inflation-spike-may-tilt-odds-in-favour-of-early-rate-hikes-the.md) | -13.3% | -22.6% |
| DIESEL | 2023-08-14 | [US diesel prices surge anticipating a soft landing](https://feedsoft.ai/events/34771-us-diesel-prices-surge-anticipating-a-soft-landing.md) | +1.2% | +8.3% |
| DIESEL | 2020-12-23 | [Freight boom fuels shipping and oil prices](https://feedsoft.ai/events/49840-freight-boom-fuels-shipping-and-oil-prices.md) | +1.5% | +7.6% |
| DIESEL | 2016-12-28 | [Diesel prices to start edging up in 2017 - Grainews](https://feedsoft.ai/events/73665-diesel-prices-to-start-edging-up-in-2017-grainews.md) | -0.9% | -4.2% |
| DIESEL | 2026-09-25 | [What’s behind the latest surge in grain and oilseed prices?](https://feedsoft.ai/events/17495-what-s-behind-the-latest-surge-in-grain-and-oilseed-prices.md) | -2.3% | +6.2% |

## Sources

- businesstech.co.za: https://businesstech.co.za/news/lifestyle/732769/petrol-prices-and-panic-sends-inflation-shooting-up-in-south-africa/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.