[ALERT] CPI rises to 5.4% in May from 5.3% in April
StatsSA also announced that the consumer price index increased by 0.3% month-on-month in May 2017.
PRETORIA - StatsSA has announced that annual consumer price inflation rose to 5.4% in May 2017 from 5.3% in April 2017. The consumer price index increased by 0.3% month-on-month in May 2017.
Economist at Argon Asset Management Thabi Leoka says that the increase has come as no surprise.
“In the month of May we saw a slight increase in fuel prices. We also saw an interesting increase in food and non-alcoholic beverages prices, which increased by 1.1 percentage point.”
The index increased by 6.9% year-on-year.
Transport increased from 0.7 of a percentage point in April to 0.8 of a percentage point in May. The index increased
by 5.2% year-on-year.
Food and non-alcoholic beverages contributed 0.1 of a percentage point in May. The index increased by 0.5% month-on-month.
Transport contributed 0.2 of a percentage point in May. The index increased by 1.2% month-on-month.
In May the CPI for goods increased by 5.5% year-on-year (up from 5.3% in April), and the CPI for services increased by 5.4% year-on-year (down from 5.5% in April).
