Inflation surprised on the upside in March, rising by 1%. Stats SA released the latest data which shows that annual consumer price inflation was 7.1% in March, up from 7.0% in February 2023. CPI StatsSA
This is higher than analyst forecasts who expected the number to begin retreating back to at least 6.9%.
The main upward pressure came from prices of food and non-alcoholic beverages; housing and utilities; transport; and miscellaneous goods and services. Food and non-alcoholic beverages increased by 14.0% annually and contributed 2.4 percentage points to the total CPI annual rate of 7,1%.Transport inflation also went by 8.9% year-on-year while miscellaneous goods and services increased by 5.9% year-on-year.
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