Slight uptick in consumer inflation for April
Consumer inflation ticked up slightly in April, rising by 0.3 per cent.
The annual inflation rate now sits at 2.8%, up from 2.7% in March.
Statistics South Africa's Patrick Kelly says food and non-alcoholic beverage inflation rose to 4 per cent.
"Inflation for food & non-alcoholic beverages (NAB) rose to 4.0%, the highest annual rate since September 2024 (4.6%). The monthly change for the category was 1.3%, the largest increase since October 2023, when the rate was 1.5%.
"The rise in food & NAB inflation was mainly due to higher meat prices, particularly for beef products such as stewing beef, mince and steak. Meat prices increased by 2.3% on average between March and April, the highest monthly rise since January 2023 (2.5%). Meat is the largest weighted group in the food & NAB category and accounts for 5.1% of total household spending."
Kelly says there's no relief for coffee lovers, who saw a record high rate, for instant coffee.
"Coffee prices are elevated across the globe. The World Bank commodity index for coffee beans (robusta) increased by 28.1% over the same period.
"Alcoholic beverages & tobacco rose by an annual 4.7%, higher than the 4.1% increase in March. The monthly increase for the category cooled from 1.6% in March to 1.3%. This likely reflects the continued impact of excise tax increases."
"On average, fuel prices declined by 3.2% between March and April. Overall, motorists are paying 13.4% less for fuel than a year ago. The price for a litre of inland 95-octane petrol softened to R21,62 from R22,34 in March. The average price for diesel eased to R21,94 from R22,80."
Find us on social media
Follow the ECR Newswatch WhatsApp channel here
