Inflation falls further in March
Statistics South Africa (Stats SA) has announced that the Consumer Price Inflation (CPI) for March was 4,1%, down from 4,6% in February 2020.
Stats SA has recorded two key features driving CPI in March – school fees and certain food products.
The incorporation of annual school and educational institutions fees are traditionally recorded in March.
"Primary school fees increased by 7,3% in 2020 compared with 6,9% in 2019 and those for high schools increased by 7,6% compared with 6,9%,” reads the statement by Stats SA.
Tertiary education institution fees climbed by 4,7%, while the fees of crèches increased by 6,7%.
Food and non-alcoholic beverage inflation was 4,2% in March 2020
"Meat products registered an annual increase of 5,0%, the highest rate. The milk, eggs and cheese index rose to 3,7%," says Stats SA.
The annual rate for oil and fat products slowed to 4,1% from February’s 5,1%
Stats SA noted a decline in prices for travel and tourism due to COVID-19
"Hotels and guest houses showed declines of 1,3 and 0,1% respectively."
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