APA-Pretoria (South Africa) South Africa’s annualised consumer inflation has dropped to 6.8 percent in April from 7.1 percent in March – the lowest reading since May 2022 when the rate was 6.5 percent.
According to latest figures published by Statistics South Africa (Stats SA) on Wednesday, inflation eased in April but remained outside the Reserve Bank of South Africa target band of three to six percent.
Stats SA said annualised inflation for food and non-alcoholic beverages eased to 13.9 percent in April – from 14 percent in March.
The bread and cereals price index increased by 20.8 percent during the 12 months to April, slightly higher than March’s reading of 20.3 percent – but lower than the recent peak of 21.8 percent recorded in January.
“The milk, eggs and cheese product group recorded an annual price increase of 14.5 percent, the largest rise in 14 years,” it said.
On a monthly basis, inflation increased by 0.4 percent in April, the agency said.
Food and non-alcoholic beverages remained the largest contributors to monthly inflation – adding 2.4 percentage points to inflation, the agency said.
NM/jn/APA