South Africa: Inflation rises in March
Consumer prices increased 0.99% in March over the previous month, picking up from February’s 0.60% rise. March’s figure was the highest reading since July 2021. The increase was primarily driven by rising prices for housing and utilities. In addition, price pressures for transportation rose at a quicker rate.
Inflation inched up to 5.9% in March from February’s 5.7%. Consequently, annual average inflation rose to 5.9% in March (February: 5.7%). Lastly, core inflation rose to 3.8% in March, from February’s 3.5%.