Inflation has shot up to 6.5% - breaching the Reserve Bank's upper limit

Inflation has shot up to 6.5% – breaching the Reserve Bank’s upper limit

Published on

22 June 2022

Inflation has shot up to 6.5% in May – from 5.9% in March and April.

This huge increase brings inflation above the Reserve Bank’s target range of between 3% and 6% for the first time since March 2017.

The main reason for the increase is transport inflation, which now stands at 15.7%.

This is due to the sharp rise in the price of petrol and diesel compared to last year.

The second biggest reason is food price inflation, which shot up to 7.6% – from 6% in April.

#CPI inflation hit a five-year high in May 2022, quickening to 6,5% in May from 5,9% in April and March.

Listen here for more: https://t.co/PzA7VzskMg #StatsSA #inflation pic.twitter.com/aYjgPSUEHC

— Stats SA (@StatsSA) June 22, 2022

If you feel that prices have been rising, you're not imagining things! These are the products that have risen the most in price.

Read more here: https://t.co/WbCtQ5ZqPF #StatsSA #CPI #inflation pic.twitter.com/plzgSX0Gi6

— Stats SA (@StatsSA) June 22, 2022

Liesl Smit

Liesl is the Smile 90.4FM News Manager. She has been at Smile since 2016, with nearly 20 years experience in the radio industry, including reading news, field reporting and producing. In 2008 she won the Vodacom Journalist of the Year Award, Western Cape region. liesl@smile904.fm