South Africa has seen a decline in consumer inflation growth rates

Published Apr 18, 2024

Tridge summary

In March, South Africa saw a slight decrease in its consumer inflation rate, dropping to 5.3% from February's 5.6%, as per Statistics South Africa. This decline, the first of the year, was mainly due to lower food prices, particularly in bread and cereals like corn flour, white bread, and pasta. Despite this positive trend, the inflation rate remains above the Reserve Bank of South Africa's target of 4.5%, indicating that the current 8.25% per annum bank discount rate on the rand is likely to stay unchanged for some time.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The growth rate of consumer inflation decreased in South Africa last March for the first time this year, to 5.3% year on year. This was reported by Statistics South Africa. “In March, the consumer inflation rate was 5.3% compared to 5.6% in February,” says its monthly review. “The slowdown in inflation is caused by lower food prices.” Management specialists note that prices for bread and cereals are stabilizing faster than others. Thus, corn flour, white bread and pasta are now cheaper than a year ago. However, the inflation rate is still far from the target set by the Reserve Bank (Central Bank) of South ...
Source: Kvedomosti
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