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Inflation Eases to 5,7% in May| News by Staff Reporter
Consumer inflation slowed to 5,7% in May, according to Stats SA
South Africa’s consumer inflation slowed more than expected in May to 5,7% year-on-year, following 6,1% in April, according to data from Stats SA.
“The official inflation rate (i.e. the percentage change in the CPI for all urban areas in May 2012 compared with that in May 2011) was 5,7% at May 2012,” said the statistics firm.
It said this rate was 0,4 of a percentage point lower than the corresponding annual rate of 6,1% in April.
On a monthly basis consumer inflation was seen at 0,1% compared with 0,4% in April.
Economists had forecast inflation easing to 5,95% year-on-year.