March consumer inflation ticks up to 4.5%

(iStock)
(iStock)

SA's annual headline consumer price index (CPI) increased to 4.5% in March from 4.1% in February, according to Stats SA.

This was within the expected range of projections by economists of between 4.2% and 4.8%.

Economists from RMB Global Markets Research Mpho Tshebe and Elena Ilkova had predicted inflation to increase to 4.6%, attributing the increase to higher fuel prices.

Analysts from NKC Economics, meanwhile, had also expected higher fuel prices to drive up inflation, to 4.7%. 

According to Stats SA, one of the main contributors to the annual increase in inflation for March was transport costs, which ticked up 6.4% year-on-year.

Other contributors to inflation include alcoholic beverages and tobacco which increased 6.4% compared to the previous year. Prices for housing and utilities increased 4.5% from March 2018.


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