/ 26 May 2004

Inflation remains stable

Year-on-year consumer inflation less mortgage costs (CPIX) stayed at 4,4% last month, Statistics South Africa (Stats SA) said on Wednesday.

This was the same as the corresponding rate in March.

Stats SA said in a statement the annual increase could be accounted for by increases in housing (excluding interest rate on mortgage bonds), medical care and health expenses, household operation, food and education.

Year-on-year headline inflation — also known as the consumer price index (CPI) — was 0,2% in metropolitan areas in April. This is 0,2% lower than in March.

Similar to March, the main contributors to this inflation rate were annual increases in medical care and health expenses, household operation, food and education.

The increase in food prices was 2,7% in April, 0,4% lower than March.

As from next month Stats SA will be releasing CPI figures for rural areas and the total country, it said. — Sapa