Statistics South Africa reported on Wednesday that consumer price inflation in South Africa remained steady in May, following a period of easing over the previous two months.
The Consumer Price Index (CPI) rose by 5.2% year-on-year in May, maintaining the same rate as in April, which met market expectations.
Additionally, the inflation rate stayed within the South African Reserve Bank's target range of 3-6%.
Core inflation, which excludes prices for non-alcoholic beverages, fuels, and energy, also held steady at 4.6%.
The prices for food and non-alcoholic beverages saw an annual increase of 4.7% in May, while transport costs climbed by 6.3%. Utility and housing expenses rose by 5.8%.
On a month-on-month basis, consumer prices edged up by 0.2%.
