Economics
South Africa Inflation Gains Pace
- Annual consumer-price growth accelerated to 4.5% in May
- Core inflation, which excludes fuel and power, stays at 4.1%
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South Africa’s annual inflation quickened in May, with the rate reaching the midpoint of the central bank’s target range as higher food and beverage prices contributed to the increase.
Annual consumer-price growth accelerated to 4.5% from a year earlier, compared with 4.4% in April, the Pretoria-based Statistics South Africa said Wednesday in a statement on its website. The median estimate of 17 economists in a Bloomberg survey was 4.4%.