Price pressures ease on inflation

2010-04-29 00:00

THE consumer price index (CPI) in March eased further in line with expectations, coming in at 5,1% from 5,7% in February 2010.

The lower inflation figure comes on the back of easing price pressures in March in various categories of goods and services, including transport and food and beverages.

Statistics South Africa said yesterday that the annual rate for “miscellaneous goods and services” decreased to 8,7% in March from 8,9% in February.

CPI for durable goods — such as furniture, appliances, electronic equipment and motor vehicles — moved into deflationary territory (-0,3%) last month.

CPI was above six percent in December 2009 and January 2010.

The Reserve Bank’s monetary policy committee (MPC) target range for inflation is three to six percent.

Price pressures on consumers in Pietermaritzburg in March 2010 were less severe than in previous months.

The city’s CPI last month was 4,2% from 4,8% in February and 5,3% in January.

Excluding food and non-alcoholic beverages, CPI in Pietermaritzburg last month was 5,1%.

CPI in KwaZulu-Natal was 3,9% in March 2010 compared to 5,7% in the Western Cape and 5,2% in Gauteng.

CPI in Durban during March was four percent compared with February’s 4,3% and January’s 4,8%.

Food price deflation was recorded in Pietermaritzburg in March, coming in at -0,3% after barely registering positive growth (0,1%) in February and January (0,5%).

The food price index remained in deflationary territory last month in Durban. Durban’s food price index was -0,9% after February’s deflation (-0,7%).

As expected, CPI for administered prices (nationally) came in at a hefty 11,2% last month.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.