![\"cpi1\"](\"https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2021\/05\/cpi1.jpg\")
<\/a><\/p>\nOver the last 14 months, consumer price inflation was relatively subdued throughout the lockdown. The lockdown began on 27 March 2020. Headline inflation retreated from 4,6% in February 2020 to 3,0% in April 2020. The rate bottomed out at 2,1% in May 2020, the lowest reading in just over 15 years.<\/p>\n
Fuel, public transport and vehicle prices push transport costs higher<\/strong><\/p>\n Annual transport inflation jumped to 10,6% in April 2021, mainly due to a rise in fuel prices, public transport and new vehicles.<\/p>\n Petrol prices reached their highest level on record. Inland 95-octane petrol was R17,32 per litre in April, R1,00 higher than it was in March.1<\/sup> The annual inflation rate for fuel was 21,4% in April, with a monthly rise of 5,4%. Fuel prices have ratcheted up significantly in recent months, with about two-thirds of the 21,4% increase accumulating during February, March and April. By comparison, there was a 12,8% annual drop in fuel prices in April 2020. The international price of oil rose from approximately $27 per barrel in April 2020 to around $50 by the end of 2020 and to $65 in April 2021.2<\/sup><\/p>\n Public transport fares increased by 5,1% in April 2021 compared with April 2020. New vehicle prices climbed by 5,5% over the same period.<\/p>\n Meat, dairy and oil prices drive up food inflation<\/strong><\/p>\n Food and non-alcoholic beverages increased by 0,9% between March and April. This took the annual rate to 6,3%, the highest it has been since 6,8% in July 2017 (45 months ago). At that time, parts of South Africa were experiencing severe drought.<\/p>\n The categories with the most significant impact on food prices in April 2021 were meat; milk, eggs & cheese; and oils & fats.<\/p>\n Annual meat inflation accelerated to 7,1% in April from 6,7% in March. This was the 6th<\/sup> consecutive month that the rate was above 6,0%. Products that recorded significant increases in April include IQF chicken portions (6,3%) and stewing beef (12,1%).<\/p>\n Prices for milk, eggs & cheese products rose by 7,8% over the past 12 months, higher than March’s 7,2%. The April rate is the highest since March 2017 (9,2%). Fresh and long-life full cream milk saw annual rises of 6,5% and 5,2%, respectively. Sour milk (19,2%) and flavoured yoghurt (10,2%) also recorded high annual price increases.<\/p>\n Oils and fats products hit an inflation rate of 16,7%, the highest since August 2016 (56 months ago) when the rate was 17,6%. Prices increased by 4,1% from March 2021. Cooking oil prices rose by 21,6% over the past 12 months.<\/p>\n The annual rate for alcoholic beverages and tobacco rose to 4,8% from 3,7% in March. The monthly increase in April was 0,5%. Almost half of the 12-month increase occurred in the first four months of 2021.<\/p>\n For more information, download the April 2021 Consumer Price Index (CPI) release here.<\/a><\/p>\n <\/p>\n 1 <\/sup>Department of Mineral Resources and Energy. Comparing prices for petrol, diesel and illuminating paraffin (IP) (click here<\/a>).<\/p>\n 2<\/sup> Oil price: Brent crude in US dollars per barrel; source: Iress (visit their site here<\/a>).<\/p>\n Similar articles are available on the Stats SA website and can be accessed here<\/a>.<\/p>\n For a monthly overview of economic indicators and infographics, catch the latest edition of the Stats Biz newsletter here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Annual headline inflation jumped to 4,4% in April from 3,2% in March, mainly driven by rising transport and food prices. This is the highest reading since before the lockdown, which was 4,6% in February 2020. Over the last 14 months, consumer price inflation was relatively subdued throughout the lockdown. The lockdown began on 27 March read more »<\/a><\/p>\n