Headline consumer inflation decreased for the first time in five months, edging lower to 2,7% in March from 3,2% in February. The decline was mainly due to lower fuel prices and softer tuition inflation.

Fuel and education help ease inflationary pressure

The fuel index softened by 0,4% from February, taking the annual rate from -3,6% to -8,8%. A litre of 95-octane petrol (inland) was R22,34 in March, down from R24,45 a year before.¹ The average price for diesel declined to R22,80 from R24,85 over the same period.²

Education fees are surveyed once a year in March. The price index for education increased by 4,5%, lower than the 6,4% rise in 2024. School fees increased by 5,0% (from 6,6% in 2024). Tertiary education institutions charged 3,7% more in 2025, compared with the 5,9% rise recorded the year before.

Food inflation slightly softer in March

The annual rate for food & non-alcoholic beverages (NAB) edged lower to 2,7% in March from 2,8% in February. Vegetables, fruits & nuts, cereal products, meat and fish registered higher annual rates. Lower rates were recorded for oils & fats; hot beverages; milk, other dairy products & eggs; cold beverages; and sugar, confectionery & desserts.

Inflation for cereal products accelerated to 4,3% in March from 3,9% in February. Maize meal remains a key driver in this category, with its annual rate accelerating to 13,1% from 10,6%. There is some good news, however. Monthly increases for maize meal have recently slowed, from 4,8% in January to 2,4% in February and 1,4% in March.

Coffee and tea drinkers continue to feel pain. Although the annual rate for the hot beverages category declined slightly in March, it remains in double-digit territory at 14,4%. In fact, this category has witnessed double-digit inflation in all but 5 of the 32 months since August 2022. Instant coffee is 18,8% and black tea 12,8% more expensive than a year ago.

Alcoholic beverages also added pressure, with prices rising on average by 2,1% between February and March. This took the annual rate to 4,7% from 4,1% in February. Annual increases were recorded for wine (up 5,3%), beer (up 4,4%) and spirits & liqueurs (up 4,3%).

The graphs below show food and beverage products that registered notable price changes.

Other notable price changes

Housing rents for the first quarter were surveyed in March. Actual rentals increased by 2,9% and owners’ equivalent rent by 2,4% in March 2025 compared with March 2024.

For more information, download the March 2025 Consumer Price Index (CPI) statistical release and associated Excel files with indices and average prices here.

¹ Department of Mineral Resources and Energy. Comparing prices for petrol, diesel and illuminating paraffin (IP) (click here).

² Stats SA, CPI_Average Prices_All urban(202503) Excel file.

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