The consumer price index (CPI), used to measure inflation, was 5.9% in April, and unchanged from March, Statistics South Africa figures showed on Wednesday.
The median consensus from a BDlive survey of 10 economists had forecast inflation was to come in at 5.8% year-on-year.
The latest inflation figure, coupled with the weaker rand, bodes ill for an interest rate cut.
"There are clearly no demand driven price pressures‚ so the peak in inflation could come earlier than factored into the market currently‚ but clearly this depends on what the rand does going forward," Meganomics economist Colen Garrow said.
"The April CPI figure is marginally higher than market expectations. The weaker rand puts big upside pressure on the inflation number and lowers the chances of a rate cut," Nedbank economist Busisiwe Radebe said.
The index rose by 0.4% month-on-month, mainly due to upward pressure from alcohol beverages and tobacco, transport, food and non-alcoholic beverages and miscellaneous goods and services.
Increases in excise duties were mainly responsible for the rise in the alcoholic beverages and tobacco, while a 12c a litre increase in the petrol price in April saw the transport sub index rise.
Core inflation, which excludes food and energy costs, also rose to 5.2% year-on-year in April — another reason discounting a rate cut.
