SA’s consumer price index (CPI), used to measure inflation, increased to 5.9% year on year (y/y) in February from 5.8% in January, Statistics SA (Stats SA) said on Wednesday.
Inflation was expected to have remained unchanged at 5.8% year on year (y/y) in February according to a survey of leading economists by BDpro. Forecasts among the eleven economists ranged from 5.7% to 6%.
CPI increased by 1.1% month on month in February from a 0.7% month-on-month increase in January.
Inflation averaged 5.7% in 2013 compared to an annual average of 5.6% in 2012, 5.0% in 2011 and 4.3% in 2010.