South Africa’s headline consumer inflation slowed more than expected in May, to 6.3% year on year from 6.8% in April, StatsSA data showed on Wednesday. Moneyweb Inflation
South Africa’s headline consumer inflation slowed more than expected in May, to 6.3% year on year from 6.8% in April, Statistics South Africa data showed on Wednesday. Read: Cash-strapped consumers place pressure on food producers Economists polled by Reuters had predicted year-on-year inflation of 6.5% and 0.4% month-on-month. Annual consumer price inflation slowed to 6,3% in May from 6,8% in April. This is the lowest reading since April 2022 when the rate was 5,9%. Read more here: https://t.
co/tvgTssLDp2#StatsSA #inflation #CPI pic.twitter.com/p3qIbpxAVc — Stats SA June 21, 2023 Core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, was at 5.2% year on year in May, from 5.3% the previous month. Read: SA’s GDP growth to expand 0.3% in 2023 – poll The latest inflation figures are further evidence that price pressures in Africa’s most industrialised economy are easing. Annual inflation was last lower in April 2022, when it was at 5.
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