Consumer Inflation Steady in South Africa
Stats SA today released the latest consumer inflation numbers (CPI) for South Africa for May 2025, and indicated that the consumer inflation had remained steady at 2,8% aligning with CPI in April of 2025. Core inflation also remained steady at 3%. Food prices saw a 4,8% increase overall in May, up from 4% in April,
CPI inflation eased more than expected
Stats SA today released the latest consumer inflation numbers (CPI) for South Africa for May 2025, and indicated that the consumer inflation had remained steady at 2,8% aligning with CPI in April of 2025.
Core inflation also remained steady at 3%.
Food prices saw a 4,8% increase overall in May, up from 4% in April, this was particularly driven by seasonal food price inflation with items such as potatoes, onions and lettuce all increasing by between 5% and 9% while beetroot jumped by over 20%, Alcoholic beverages also climbed by 4% but this was largely driven by additional taxes.
Fuel prices continued to fall with a decrease of 149% with global fuel prices lower, however this may see a reversal in coming months due to the ongoing military conflict between Israel and Iran that may disrupt oil supply.
The inflationary trend line in South Africa has seen a steady decline from around the 6% level in Q3 of 2023 and falling quite steeply since a year ago in June 2024 with overall inflation for the year now expected to be around 3%.
