Inflation breaches upper level of Bank’s target range
Consumer inflation for May accelerated to 6.5%, well above market expectations, amid relentless increases in food and petrol prices
22 June 2022 - 11:07
SA’s annual consumer inflation for May accelerated to 6.5%, well above market expectations, amid relentless increases in food and petrol prices.
Stats SA said on Wednesday that the consumer price index (CPI) rose 6.5% in May, breaching the Reserve Bank’s upper limit of 6%. This is the highest reading since January 2017, when the inflation rate was 6.6%, and well above market expectations of 6.2%...
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