Smokers and lovers of beef and alcohol felt the pinch in April, as sharp price hikes in these items drove up inflation.
Consumer Inflation was slightly higher in April at 2.8%, slightly higher than the 2.7% in March, while the change in the Consumer Price Index between March and April was 0.3%. The prices of beef, fats, and oils were the culprits this time.
According to Statistics South Africa (Statistics SA), which announced the inflation rate on Wednesday morning, food and non-alcoholic beverages inflation increased by 4.0% in April, the highest annual rate since September 2024, when it was 4.6%.
According to Statistics SA, which announced the inflation rate this morning, inflation for food and non-alcoholic beverages increased by 4.0% in April, the highest annual rate since September 2024, when it was 4.6%.
The monthly change for the category was 1.3%, the largest increase since October 2023, when the rate was 1.5%. Statistics SA says the increase in inflation for food and non-alcoholic beverages was mainly due to higher meat prices, particularly for beef products such as stewing beef, mince and steak.
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Notable inflation increases for meat and oils and fats
Meat prices increased by 2.3% on average between March and April, the highest monthly increase since January 2023, when it was 2.5%. Meat is the largest weighted group in the food and non-alcoholic beverages category and accounts for 5.1% of total household spending.
The price index for oils and fats increased by 1.4% between March and April, taking the annual rate to 4.8%. Consumers paid 6.1% more for cooking oil in April than a year ago and 5.5% more for a brick of margarine.
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Coffee lovers also feel the pinch of inflation
There was also no relief for coffee lovers, with annual inflation for hot beverages increasing to 15.2%, the highest print since September 2024 when it was 15.8%. Instant coffee continues to record the highest rate in this category, with prices increasing by 20.2% in the 12 months to April.
Coffee prices are high across the globe, with the World Bank commodity index for coffee beans (robusta) increasing by 28.1% over the same period.
On an annual basis, the prices of alcoholic beverages and tobacco increased by 4.7%, higher than the 4.1% increase in March. However, the monthly increase for the category cooled from 1.6% in March to 1.3% in April and likely reflects the continued impact of excise tax increases.
This graph shows the food and beverage products that registered notable price changes in April.
Fuel prices continue to ease, and it was also clear in the figures from Statistics SA. On average, fuel prices declined by 3.2% between March and April. Motorists are paying overall 13.4% less for fuel than a year ago.
The price for a litre of inland 95-octane petrol softened to R21.62 from R22.34 in March, while the average price for diesel eased to R21.94 from R22.80.
