News Leader
WATCH: What the small dip in inflation means for the rest of 2018
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.
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