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Financial News: South Africa Inflation Rises In March

South Africa Inflation Rises In March

04/21/2021 - 06:41:00 (RTTNews)

(RTTNews) - South Africa's consumer price inflation increased in March, figures from Statistics South Africa showed on Wednesday.

The consumer price index rose 3.2 percent year-on-year in March, after a 2.9 percent increase in February. This was in line with economists' expectation.

The main contributions to the annual inflation came from food and non-alcoholic beverages, housing and utilities, transport, and miscellaneous goods and services.

Prices for food and non-alcoholic beverages increased by 5.7 percent annually in March and housing and utilities cost rose by 2.2 percent.

Prices of miscellaneous goods and services, and transport grew by 4.0 percent and 3.8 percent, respectively.

On a month-on-month basis, consumer price grew 0.7 percent in March. This was in line with economists' expectation.

The core inflation, which excludes prices of non-alcoholic beverages, fuels and energy, was 2.5 percent in March. Economists had forecast a 2.7 percent increase.

On a monthly basis, the core CPI increased 0.5 percent in March. Economists had forecast a rise of 0.7 percent.

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