CPI remains steady at 2.8% in May

Published on


Add Smile FM on Google

 

 

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

Malawian man reunited with beloved dog after emotional journey from St Francis Bay to Malawi

 A heartwarming story has emerged from the aftermath of the anti-immigration protests that swept parts of South Africa in late June, with a Malawian...

Khayelitsha electricity vandalism leaves one dead, 18,000 customers without power

  A suspected act of theft and vandalism on Eskom infrastructure in Khayelitsha has claimed the life of a member of the public and left...

South Africa prepares for potential breakthrough adult TB vaccine

 The Department of Health says it is laying the groundwork to ensure South African adults can access a new tuberculosis (TB) vaccine as quickly...