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Fin24 reports that annual consumer inflation ticked up marginally in April to 2.8%, from 2.7% in March. The month-on-month change in inflation between March and April was 0.3%.
Inflation for food & non-alcoholic beverages (NAB) rose to 4%, the highest annual rate since 4.6% in September 2024. The rise in food & NAB inflation was largely due to higher meat prices, especially for stewing beef, mince and steak. Meat prices increased by 2.3% on average between March and April, the highest monthly rise since January 2023. Meat accounts for 5.1% of total household spending. The index for oils & fats increased by 1.4% between March and April, which took the annual rate to 4.8%. Cooking oil is now 6.1% and brick margarine 5.5% more expensive than a year ago. On average, fuel prices declined by 3.2% between March and April, with motorists now paying 13.4% less for fuel than a year ago
- Read the full original of the report in the above regard at News24 Business
- Read too, Inflation rises slightly in April, but core pressures continue to ease, at Moneyweb
Get other news reports at the SA Labour News home page