Administered price inflation increased by 10,7 per cent in April, driven by a 12,1 per cent increase in the regulated component. If one excludes administered prices from CPI, the CPI would have measured 3,1 per cent in April.
So far, these developments have not filtered through to broader price pressures and the appreciation bias in the rand exchange rate for most of this year, has helped to contain price pressures. That said, April inflation data does suggest that core measures may be beginning to rise. The Bank has revised higher its inflation forecasts over the past few MPC meetings.