Picture: ISTOCK
Picture: ISTOCK

Consumer inflation slowed to 4.4% in May. Economists had expected it to accelerate to 4.6%.

The food component of the consumer pirce index (CPI) showed annual inflation of 3%, down from 3.7% in April, helped by average fruit prices falling 6.4% and bread and cereals getting 4.1% cheaper over the year.

May’s fuel inflation came in at 9.4% from the same month in 2017.

The drop in fruit and cereal prices helped mitigate 7.8% inflation in meat prices and 6.8% inflation in fish prices.

Stanlib chief economist Kevin Lings spoke to Business Day TV about what May’s CPI data means for inflation in coming months.

Stanlib chief economist Kevin Lings talks to Business Day TV about what May’s CPI data means for inflation in coming months

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