Inflation slows to its lowest level since April 2022.
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GUEST - Isaac Matshego – Economist at Nedbank
May's annual consumer price inflation slowed to 6.3% from 6.8% in April, with food prices finally cooling. May's inflation rate, which was also slowed by an easing in fuel prices, is the lowest since April 2022, Statistics SA said. It was also cooler than economists expected. The median expectation among economists in a Bloomberg survey was 6.5%. The consumer price index (CPI) increased by 0.2% between April and May.
May's annual consumer price inflation slowed to 6.3% from 6.8% in April, with food prices finally cooling. May's inflation rate, which was also slowed by an easing in fuel prices, is the lowest since April 2022, Statistics SA said. It was also cooler than economists expected. The median expectation among economists in a Bloomberg survey was 6.5%. The consumer price index (CPI) increased by 0.2% between April and May.
