Central SA
CPI rises to 30-month high in May─── 15:52 Wed, 23 Jun 2021
PHOTO: Twitter
Consumer inflation has risen to a 30-month high, increasing to 5.2 percentage points in May. That's its highest pace since February 2020.
The acceleration in price growth is partly due to a base effect.
The data - released by Stats SA on Wednesday morning - beat analysts' expectations who believed inflation would accelerate to 5-point-1 percent in May.
The figures reflect rising food and fuel prices, as well as supply-chain disruption.
The main contributors to the May rate were food and non-alcoholic beverages, housing and utilities, transport, and miscellaneous goods and services.
There are now fears the latest data could prompt the Reserve Bank to hike interest rates sooner rather than later.
