Consumer inflation edges higher in March

Patrick Kelly, Chief Director for Price Statistics at Stats SA, says food inflation is the main driver of the increasing headline CPI by 14 percent in the 12 months to March.

"Inflation for food & non-alcoholic beverages continued to accelerate, with prices increasing by 14,0% in the 12 months to March. This represents the largest annual increase since the 14,7% rise in March 2009.

"In March, milk, eggs & cheese; sugar, sweets & desserts; fruit and vegetables; and the product category 'other food products' experienced upward inflationary pressure. The milk, eggs & cheese product group witnessed its annual rate reaching 13,6% from the recent low of 3,7% in April 2022. 

"The reading in March is the highest annual increase since February 2009's print of 13,9%. Bread & cereals, meat, oils & fats, and fish bucked the trend, recording slower growth." 

Transport rose by 8,9%, down from the 9.9% from the annual rate recorded in February. 

Kelly says this downward shift was led by eight consecutive months of slowing fuel inflation.

He's given a mention to school costs inflation, fees increased by 5,7% in 2023, higher than the 4,4% in 2022.

"Fee increases were recorded for primary and pre-primary schools up 6,3%, secondary schools up 5,8% and tertiary institutions up 5,3%.

"Other education-related products and services that recorded price increases include crèches up 4,6%, university boarding fees up 6,7%, textbooks up 11,3%."