Chamwe Kaira
South Africa’s inflation rate rose to 4% in April from 3.1% in March, mainly driven by sharp fuel price increases, according to Statistics South Africa.
Namibia imports most of its consumer goods from South Africa, making the increase important for local consumers and businesses.
The monthly increase in the consumer price index (CPI) was 1.1% in April. Statistics South Africa said this was the highest inflation level recorded since August 2024, when inflation stood at 4.4%.
Fuel prices recorded the sharpest increase. The fuel index rose by 18.2% between March and April, the largest monthly jump since the current CPI series started in 2008.
Petrol prices increased by 15.2% while diesel prices surged by 35.4%.
The inland price of 93-octane petrol rose from R20.19 per litre in March to R23.25 per litre in April. Statistics South Africa said this was the fifth-largest increase for this grade in 50 years and the largest increase recorded this century.
Diesel users faced even steeper increases. The average diesel price climbed from R21.28 per litre in March to R28.80 on 2 April.
Passenger transport costs also increased sharply. The passenger transport services index rose by 3.1% between March and April, the largest monthly increase since July 2022.
Airfares continued rising after a 14.3% increase in March. Ticket prices increased by another 24.5% in April. Statistics South Africa said this was the largest monthly increase in airfares since March 2008, when ticket prices rose by 32.4%.
Food inflation, however, continued slowing. Annual inflation for food and non-alcoholic beverages declined from 3.6% in March to 2.9% in April. This marked the third consecutive monthly decline.
Six of the eleven food and beverage categories recorded lower annual inflation rates. Meat prices showed one of the largest slowdowns. Annual meat inflation eased from 11.6% in March to 9.4% in April.
Beef mince inflation slowed from 22.2% to 15.3%, while stewing beef inflation declined from 22.6% to 8.7%. Pork inflation also eased from 19.5% to 17.7%.
The cereals category remained in deflation for a third consecutive month. Statistics South Africa said products such as white rice, maize meal, porridge, basmati rice and bread flour were cheaper than a year ago.
Milk, dairy products and eggs recorded a slight annual increase of 0.1% after declining by 0.5% in March. Powdered milk and eggs remained in deflation at -3.4% and -5.8%, respectively.
Insurance costs also increased during April. The insurance index rose by 1.3% month-on-month, mainly because of higher health insurance premiums.
Medical aid contributions increased by 1.8% in April, taking the annual increase to 8.3% as several medical schemes implemented higher premiums.
