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Surge in fuel prices hikes February's consumer inflation to 4.1% | IOL Business Report

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Surge in fuel prices hikes February's consumer inflation to 4.1% busrep

JOHANNESBURG – Data released by Statistics SA on Wednesday showed that inflation rose on administered and fuel price increases. Fuel prices increased by 7 cents a litre in February and by 74c a litre this month. Prices are expected to rise by 97c a litre in April as a result of under-recovery.

In January the Sarb’s quarterly Projection Model forecast that headline inflation would average 4.6 percent this year and 4.8 percent in 2019 before increasing to 5.3 percent in 2020 and moderating to 4.8 percent in 2021.PPS Investments portfolio manager Luigi Marinus said prices of water and other services increased by 11 percent year on year in February and electricity and other fuels increased 7.6 percent year-on-year.

 

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