Zuko Komisa
The Consumer Price Index, or inflation, has somewhat eased to 5.2% in April.
Statistics South Africa (Stats SA) revealed on Wednesday that from 5.3% in March and 5.6% in February.
The announcement comes a week before the monetary policy committee (MPC) of the South African Reserve Bank (Sarb) announces its next repo rate. StatsSA reported that overall food inflation decreased during that time.
“On average, vegetable prices increased by 7.4% in the 12 months to April, higher than the 6.0% increase recorded in March. Vegetable products that recorded relatively high price increases include potatoes, frozen potato chips, broccoli and beans. The annual rate for fruit rose from 3.3% in March to 4.5%, mainly driven by higher prices for bananas and apples. Hot beverage inflation increased marginally from 11.2% to 11.4%. The rates for instant coffee and black tea remain in double-digit territory,”
“The annual rate eased to 4.3% from 5.0% in March. Bread flour, cake flour, ready-mix flour, white bread, pasta, rusks, savoury biscuits and maize meal are cheaper than a year ago. The average price of a loaf of white bread was R18.43 in April 2024, down from R19.07 in April 2023.
“On the other hand, sharp price increases were recorded for rice, pizzas and pies, instant noodles and sweet biscuits. Annual rice inflation accelerated to 26.4%, the highest reading since May 2009 when the rate was 41.9%,”
Statistics South Africa (Stats SA)
Annual consumer price #inflation slowed for a second consecutive month, easing to 5,2% in April from 5,3% in March and 5,6% in February.
— Stats SA (@StatsSA) May 22, 2024
Listen here for more: https://t.co/18ssTjTB42
#StatsSA #CPI pic.twitter.com/7LUgcXr1K4
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Written by: Zuko
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