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South Africa’s annual consumer inflation edged up to 3.1% in March from 3.0% in February, according to Statistics South Africa. Prices rose 0.6% on the month, with housing and utilities, food and financial services among the main forces pushing the index higher.
The rise was broad enough to touch six of the 13 major spending categories, including transport, education and restaurants. Education remained a standout driver, with tuition fees rising 5.4% this year and private education recording the sharpest increase at 7.5%.
Transport costs were still in negative territory year on year, but the decline continued to slow, falling 1.6% compared with a year earlier. Food inflation eased slightly to 3.6%, while several items including fruits, vegetables, cereals and dairy recorded deflation, with dairy prices falling for a tenth consecutive month.
Officials said the data was collected before April’s fuel price increases, meaning inflation could face more upward pressure in the coming months. The latest reading suggests South Africa’s goods inflation is still cooling, but services inflation is starting to firm, leaving the overall picture mixed.
