Inflation Slightly Eases to 5.2% in April Amid Mixed Food Price Trends

Fruit prices also saw a rise, with the annual rate increasing from 3.3% in March to 4.5% in April, driven largely by higher prices for bananas and apples.

The Consumer Price Index (CPI), a measure of inflation, slightly slowed to 5.2% in April, down from 5.3% in March and 5.6% in February, according to Statistics South Africa (Stats SA).

Stats SA reported that overall food inflation decelerated over this period, although certain categories like fresh produce and hot beverages saw increased prices. Vegetable prices, for instance, rose by 7.4% over the 12 months to April, compared to a 6.0% increase in March. Significant price hikes were noted for potatoes, frozen potato chips, broccoli, and beans.

Fruit prices also saw a rise, with the annual rate increasing from 3.3% in March to 4.5% in April, driven largely by higher prices for bananas and apples. Hot beverage inflation inched up slightly from 11.2% to 11.4%, with instant coffee and black tea maintaining double-digit increases.

Conversely, inflation for bread and cereals continued its downward trend for the 12th consecutive month in April. The annual rate decreased to 4.3% from 5.0% in March, with items such as bread flour, cake flour, ready-mix flour, white bread, pasta, rusks, savory biscuits, and maize meal all cheaper than a year ago. Notably, the average price of a loaf of white bread fell to R18.43 in April 2024 from R19.07 in April 2023. However, sharp price increases were observed for rice, pizzas and pies, instant noodles, and sweet biscuits, with annual rice inflation hitting 26.4%, the highest since May 2009.

Sugar, sweets, and desserts saw their annual inflation rate slow to 16.8% in April. Egg inflation also cooled for the fifth consecutive month, dropping from a peak of 39.9% in November 2023 to 25.1% in April 2024. Most products in the milk, eggs, and cheese category, except for whiteners, condensed milk, Gouda cheese, and fresh cream, recorded lower annual rates in April, reducing the overall category inflation to 8.7% from 10.1% in March.