May data shows costs of goods, services on the rise
SA consumers paid 6.1% more in May for goods and services compared to the same time last year.
CAPE TOWN - Statistics South Africa says the price of goods and services increased yet again last month.
South African consumers paid 6.1% more in May for goods and services compared to the same time last year.
Data shows the consumer price index inflation rate at 6.1% for the month of May.
The biggest jump in prices were seen for that of food and alcohol, which saw a 10.5% hike year-on-year.
The 12 cents per litre fuel price hike and increase in the price of vehicles all contributed to an overall monthly price increase of 0.2%.
The data will come as a surprise to some economists, as shown by a Reuters poll, which anticipated a slightly higher annual inflation rate.