Inflation at 6,1%, outside the SARB inflation target range

Inflation at 6,1%, outside the SARB inflation target range

The headline inflation rate continues to increase, printing at 6,1% in April with a 0,5% monthly increase. The big driver of the monthly increase is food and non-alcoholic beverages prices which registered a monthly increase of 1,3%.

Within food, meat (2,0% month-on-month), and particularly beef (4,2% m/m) prices have accelerated. Maize, which is another heavily weighted item, increased 3,5% in the month and now has an annual inflation rate of 20,2%.

Following the recent ICASA ruling on cell phone termination rates, cell phone call costs dropped by 0,8% and show an annual deflation rate of 1,1%.

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