Consumer price inflation hits 30-month high in May - Stats SA

Statistics South Africa said that the key driver behind the acceleration in headline CPI inflation was the transport component, the contribution of which increased by a sizeable point 5.2%.

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JOHANNESBURG - There has been a major increase in consumer inflation to 5.2% year-on-year for May, this is from 4.4% in April.

Statistics South Africa said that the key driver behind the acceleration in headline CPI inflation was the transport component, the contribution of which increased by a sizeable point 5.2%.

Stats SA said that rising fuel prices had contributed to increasing costs in the transport sector.

Director for price statistics, Marietjie Bennett: "The main contributions to May's inflation rate were transport and food and non-alcoholic beverages. Despite a small monthly drop in the fuel price in May, the annual increase quickened to 37.4% from 21.4% in April."

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