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
