S. Africa’s inflation dips to 5.3% in March

South Africa recorded a slight decline in headline inflation to 5.3 per cent in March from February’s 5.6 per cent, maintaining a range of 5-6 per cent since September 2023. The consumer price index (CPI) rose by 0.8 per cent, down from 1.0 per cent in February, as per official data released on Wednesday.

Top movers in March were housing and utilities (increased by 5,9 per cent year-on-year and contributed 1,4 percentage points); miscellaneous goods and services (increased by 8,5 per cent year-on-year and contributed 1,2 percentage points); food and non-alcoholic beverages (increased by 5,1 per cent year-on-year and contributed 0,9 of a percentage point); and transport (increased by 5,3 per cent year-on-year and contributed 0,8 of a percentage point).