South Africa inflation rises to 5.9pc

JOHANNESBURG, South Africa, April 21 –  The annual consumer price inflation in South Africa reached 5.9 percent in March, up from 5.7 percent in February, almost hitting the upper limit (6 percent) of the Monetary Policy target range set by the South African Reserve Bank (SARB).

Numbers released by Statistics South Africa (Stats SA) on Wednesday showed that the main contributors to the increase in inflation came from food and non-alcoholic beverages, housing and utilities, transport, and miscellaneous goods and services.

“The transport index in March was also driven higher by increases in toll fees, air transport, and bus fares,” Director for CPI Operations at Stats SA Lekau Ranoto said.

Chief Economist at Efficient Group Dawie Roodt warned that inflation may keep rising for another year in South Africa to above six percent, adding that this would be difficult for consumers.