Slight increase in consumer inflation not entirely bad, says economist

CAPE TOWN - Economist Ulrich Joubert says while the slight increase in consumer inflation is not entirely bad, consumers could see substantial increases in property tax, rates and services, among other things.
 
The latest Consumer Price Index (CPI) numbers were released by Statistics South Africa (Stats SA) on Wednesday.
 
Overall, the CPI increased from 2.7% in March to 2.8% in April.
 
Meat, cooking oil, butter and coffee are some of the food items that saw significant price increases in April.
 
Joubert said consumers could also see some positive changes going forward.
 
"Overall, we are, however, saying that if we look at this inflation rate, we could see some easing up on energy prices and hopefully also on food prices, which have risen not that much over the last year. You’ll never know what's happening to the climate, but at the moment, it seems to us that also food prices should remain under control."
 
Joubert also shared some advice for consumers.
 
“Every listener must go and look at the main items on which they spend their money, how are those price increases affecting them. But overall, to the economy we say this figure indicates to us that inflation is under control, that the Reserve Bank could cut interest rates."