for subscribers

Big drop in SA inflation amid rising food costs

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
 (Duncan Alfreds, Fin24)
(Duncan Alfreds, Fin24)

Cape Town – Consumer Price Inflation (CPI) decelerated from 7% year-on-year (y/y) in February to 6.3% in March, Statistics South Africa announced on Wednesday, while food costs in March were nearly 10% higher than in March 2015.

“On average, prices increased by 0.8% between February 2016 and March 2016,” Stats SA said.

This falls in line with most economic assumptions, with Rand Merchant Bank analyst John Cairns explaining that “following repeated upside inflation surprises, we expect the number for March to show a sharp, albeit temporary, moderation”.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.04
(-0.38)
ZAR/GBP
21.81
(-0.11)
ZAR/EUR
19.90
(-0.12)
ZAR/AUD
12.03
(-0.12)
ZAR/JPY
0.16
(-1.12)
Gold
1860.65
(+0.03)
Silver
22.87
(+0.11)
Platinum
844.51
(+0.50)
Brent Crude
42.23
(-0.12)
Palladium
2207.00
(+0.59)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1368 votes
It depends on how the funds are used.
73% - 8867 votes
No. We should have gotten the loan elsewhere.
16% - 1959 votes
Vote