South Africa: Inflation jumps to over one year high in May
Latest reading: Consumer prices were up 4.0% in annual terms in April, following a 3.1% rise in the prior month. April’s reading was the strongest since August 2024.
Relative to the previous month’s figures, there were higher price pressures for housing and utilities (+5.2% on a year-on-year basis vs +5.1% in March) and transportation (+4.9% vs -1.6% in March). In contrast, price pressures reduced for food and non-alcoholic beverages in April (+2.9% vs +3.6% in March).
Meanwhile, core consumer prices rose 3.6% in annual terms in April, following a 3.2% rise in the prior month.
Lastly, consumer prices increased 1.15% in April on a month-on-month basis, following a 0.58% rise in the prior month.