JOHANNESBURG – Annual consumer inflation remained unchanged at 2.8% in May, defying expectations of a slight increase.
Statistics South Africa released the latest figures on Tuesday.
The rate remains well below the Reserve Bank’s midpoint target of 4.5%.
READ | Consumer inflation data due this week
Angelika Goliger, chief economist at EY Africa, says the stronger rand and lower oil prices helped ease pressure during the month.
She warns that global events are weighing on economic growth, and the impact may be felt in the months ahead.
https://www.enca.com/business/inflation-stays-steady-28-month-may
