South African Inflation Cools as CPI Rises
Annual Inflation Falls to 5.3% in March 2024
According to the latest data, consumer price inflation in South Africa has fallen to 5.3% in March 2024, down from 5.6% in February. This marks the lowest inflation rate since September 2004.
CPI Increases to 114.80 Points
Despite the decline in inflation, the Consumer Price Index (CPI) for All Urban Consumers rose to 114.80 points in March from 113.90 points in February. This 0.4% monthly increase was driven by higher food and non-alcoholic beverage prices.
Food and Energy Prices Push CPI Higher
The main drivers of the CPI increase were food and non-alcoholic beverage prices, which rose by 1.1% month-on-month. Energy prices also contributed to the increase, rising by 0.8%.
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