Inflation unchanged at 3.2% in February
Statistics South Africa says consumer inflation held steady in February.
It remained unchanged from January’s 3.2%.
Stats SA's Lekau Ranoto says inflation remains within the Reserve Bank’s target range of between three and six percent.
"Recreation, sport & culture, food and non-alcoholic beverages, alcoholic beverages and tobacco; and communication recorded higher annual rates in February.
"Inflation cooled for several product categories, most notably personal care and miscellaneous services; health; restaurants and accommodation; furnishings, household equipment and routine maintenance; and transport."
Ranoto said the annual rate for food and non-alcoholic beverages accelerated to a four-month peak last month, rising to 2.8% from 2.3% in January.
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"Fruit and nuts, vegetables, hot beverages, seafood, meat and cereals recorded higher rates. However, cold beverages; milk, dairy & eggs; oils & fats; and sugar, confectionery & desserts witnessed slower price increases.
"Maize meal inflation reached a 17-month high and samp a 19-month high in February. The price index for maize meal increased by an annual 10,6% and samp by 18,7%.
"In terms of average prices, a 5 kg bag of maize meal was R74,91 in February, up from R68,52 a year ago. The price for samp (1 kg) increased to R22,86 from R19,28 over the same period."
This marks the fourth consecutive month that inflation has remained above the four-and-a-half-year low of 2,8% in October.
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