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SA's CPI falls to lowest level in more than 15 years

On a month-on-month basis, the consumer price index was at -0.6% in May from a 0.5% decrease the previous month.

Picture: 123rf.com

JOHANNESBURG - South Africa’s headline consumer inflation slowed to 2.1% year-on-year in May, its lowest in more than 15 years, from 3.0% in April, data from Statistics South Africa showed on Wednesday.

On a month-on-month basis, the consumer price index was at -0.6% in May from a 0.5% decrease the previous month.

Core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, slowed to 3.1% year-on-year in May compared with a rate of 3.2% in April. On a month-on-month basis core inflation was at -0.2% from the same rate previously.

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