By Marcus Moloko
South African consumers face renewed pressure after annual consumer inflation jumped to 4.0% in April from 3.1% in March, driven mainly by sharp fuel price increases, Statistics South Africa said on Wednesday.
The April figure was the highest inflation print since August 2024, when headline inflation stood at 4.4%.
Stats SA said that fuel was the main driver of the increase, with the fuel index rising 18.2% between March and April — the steepest monthly increase since the current consumer price index series began in 2008.
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The official April fuel-price adjustment increased both 93 and 95 petrol by R3.06 a litre, while diesel rose by between R7.37 and R7.51 a litre.
The inflation increase comes amid renewed pressure on global oil markets linked to the conflict in the Middle East, which has pushed Brent crude above $100 a barrel and raised concerns about supply disruptions.
The South African Reserve Bank targets inflation at 3%, with a tolerance band of one percentage point either side. April’s 4.0% print places inflation at the upper edge of that band.
The acceleration is likely to add pressure on the Reserve Bank ahead of its next interest-rate decision, with economists expected to watch closely for signs that higher fuel costs are feeding into transport, food, housing and other everyday expenses.
For consumers, the immediate impact is likely to be felt through higher transport costs and rising pressure on household budgets, while any interest-rate increase would add to borrowing costs for homeowners, vehicle buyers and other credit users.
