Data released by Statistics South Africa shows that the Consumer Price Inflation remained unchanged at 3.2% in February from January 2025.

The main contributors to inflation in the month came from housing and utilities, food and non-alcoholic beverages, restaurants and accommodation services.

Inflation remains broadly under control and well below the Reserve Bank’s midpoint target.

#ZAinflation || Annual consumer price inflation was 3,2% in February, unchanged from January.

Listen here for more: https://t.co/qrsaOiGxog #StatsSA #ZACPI #GovZAupdates pic.twitter.com/97uCsngVSW

— Statistics South Africa (Stats SA) (@StatsSA) March 19, 2025

VIDEO | CPI went up from 3% in December 2024 to 3.2% in January 2025:

Repo rate

Independent Economist Elize Kruger says the South African Reserve Bank’s Monetary Policy Committee has scope to lower interest rates by 25 basis points when it announces its interest rate decision on Wednesday.

She says given that inflation remains within the bank’s target band and below its midpoint threshold a cut would be justified.

“My view is that indeed the Reserve Bank has scope to lower interest rates further by 25 basis points, this is on the basis of inflation well under control, an average of around 4% for 2025, compared to last year’s 4,4%. We remain well within the target band of the Reserve Bank, we are seeing oil prices at around $70 per barrel, the rand at a fairly strong level around R18.20, so I do think there’s scope for the bank to lower (interest rates).”