Consumer inflation unchanged in February
Consumer price inflation was unchanged in February at 5.7%.
Stats SA says there were a number of main contributors to the rate, including rising food and transport prices.
Bread and cereals were among the largest monthly price increases.
Maize meal was up by 3.7% and white bread up by 3.2%.
Director of CPI Operations Lekau Ranoto says prices climbed by over 2% between the two months.
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"Other products with large price increases include ready mix flour and cake flour, pasta, porridge, macaroni and brown bread.
"Fuel prices increased by 2,9% in February after softening in January. The price of inland 95-octane petrol climbed by 53c from January to reach R20.14 per litre, shy of the record high of R20.29 reached in December.”
The Reserve Bank’s Monitory Policy Committee is expected to hike the repo rate by at least 25 basis points when it shares the outcomes of its meeting on Thursday.
This in an effort to curb rising inflation.
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