11.7 C
Cape Town
Saturday, July 12, 2025

CPI remains steady at 2.8% in May

Published on

 

 

Annual consumer price inflation remained unchanged at 2.8% in May, the same as April.

 

 

This is in comparison to the 2.7% observed in March.

 

 

Statistics South Africa released the latest reading early on Wednesday, adding that food and non-alcoholic beverages is the biggest contributor to the monthly uptick in the CPI. Other drivers included the housing and utilities sector, and alcoholic beverages and tobacco.

 

 

At the same time, food inflation has ascended to 4.8%, a rise from the 4% observed the previous month.

 

 

The agency’s Patrick Kelly emphasised that meat prices, especially beef, were a primary factor behind the increase in food inflation.

 

 

“Meat and specifically beef, is a key factor behind the rise in food inflation. The annual rate for meat jumped to 4.4% from 3% in April, that month, monthly increases for beef products ranged from 6.2% to 11.9%, in May, this trend continued with notable monthly increases recorded for beef steak up to 4 and a half percent, stewing beef higher by 2.5% and beef mince increasing by 1.7%,” said Kelly.

 

 

READ MORE: Drunk driving and assault cases in Cape Town soar over long weekend

 

Latest articles

Consumer Alert: Range Rover Evoque and Mercedes-Benz Models Recalled Over Safety Concerns

  The National Consumer Commission (NCC) has announced a safety recall affecting select Range Rover Evoque and Mercedes-Benz models sold in South Africa.   Range Rover Evoque...

Meet the First-Ever Barbie with Type 1 Diabetes

  In a heartwarming move toward greater inclusivity, Barbie has just launched her first-ever doll with Type 1 diabetes, and it’s more than just a...

Ramaphosa to meet with officials implicated in Mkhwanazi allegations

    President Cyril Ramaphosa is set to host a family meeting at 19h00 on Sunday, 13 July 2025, following serious allegations made against senior political...