Concern amid fuel and electricity price increases and the knock-on effect on inflation

With major increases in petrol prices and electricity tariffs this month, there are concerns about the knock-on effects on inflation.

Fuel prices shot up at midnight, with 93 octane petrol increasing by 95 cents a litre, while 95 octane increased by one rand.

Diesel increased by between 63 and 65 cents.

The cost of electricity also went up by 15% this month.

The Reserve Bank has set its inflation target of between 3% and 6% and there are concerns that a double blow of electricity and fuel increases would affect this.