Consumer inflation slows to 5.3% in March: Stats SA

Consumer inflation slows to 5.3% in March: Stats SA

Headline consumer inflation slowed to 5.3% in March from 5.6% in February, Statistics South Africa announced on Wednesday.  

Budgeting with a calculator / iStock
Budgeting with a calculator / iStock

Following a two-month upswing, the decrease helped keep the rate within the SA Reserve Bank’s official target range of between 3 and 6%. 

"The rate has held its ground between 5% and 6% since September 2023," Stats SA said.

Up 6.3 percent, 6 percent and 5.9 percent, respectively, education, health, and housing were among the categories registering the highest annual price changes.

The economy is among voters' main concerns as South Africans head to the poll on May 29 amid high unemployment, poverty and sluggish growth.

“Education fees are surveyed once a year in March. Overall, education was 6.3% more expensive in 2024 than it was in 2023. This exceeds the 5.7% annual increase in 2023 and is the highest since 2020, when the rate was 6.4%,” Patrick Kelly said. 

“High schools recorded the most significant increase. in 2024 (up 7.3%), followed by primary schools and tertiary institutions (both up by 5.9%).

“Crèches and university boarding were also surveyed in March. Crèches increased their fees by 6%. University boarding is on average 8.2% more expensive than a year ago.”


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