Statistics South Africa’s (Stats SA) newly released data shows that headline consumer inflation declined to 5.3% in March from 5.6% in February.
On a monthly basis, inflation rose 0.8% in March. This after a 1% increase in the previous month.
In a statement, Stats SA says the categories with the highest annual price changes in March were miscellaneous goods and services, education, health and housing.
Overall, school fees were 6.3% more expensive this year than last year. This exceeds the 5.7% annual increase in 2023 and is the highest since 2020 when the rate was 6.4%.
The South African Reserve Bank kept its main interest rate unchanged at 8.2% last month, stating its policy stance needed to remain restrictive to tackle higher inflation expectations.
#Inflation softened to 5,3% in March 2024, from 5,6% in February 2024. Join #StatsSA on @CapeTalk at 11h05 today as we dig deeper into the latest Consumer Price Index figures.
More here: https://t.co/TyKQ1BHK6h pic.twitter.com/teiGse5CGT— Stats SA (@StatsSA) April 17, 2024
