/ 17 May 2011

Consumer inflation continues to rise in April

Consumer Price Inflation (CPI) rose in April to 4,2% year on year, Statistics South Africa said on Tuesday.

“The official inflation rate (i.e. the percentage change in the CPI for all urban areas in April 2011 compared with that in April 2010) was 4,2% at April 2011,” Statistics SA said in a report.

This was 0,1 of a percentage point higher than the corresponding annual rate of 4,1% in March 2011.

The figure is in line with the South African Reserve Bank’s target of keeping annual CPI between 3% and 6%..

On a month-on-month basis, from March 2011 to April 2011, the CPI for all urban areas increased by 0,3%.

The increase in April is in line with the SA Reserve Bank’s view that inflation would continue to rise steadily this year, and breach the upper end of the inflation target in the first quarter of 2012. — Sapa