South Africa's consumer price inflation weakened more-than-expected to the lowest level in four months in May, latest data showed Wednesday.
Inflation as per the consumer price index dropped to 5.6 percent in May from 5.9 percent in April, which was unchanged from the preceding two months, Statistics South Africa said.
The latest figure was the lowest since January, when consumer prices moved up by 5.4 percent. Economists had forecast inflation to ease more modestly to 5.8 percent in May.
In May, inflation was influenced by a 6.7 percent gain in food prices, and a 2.9 percent year-on-year growth in clothing and footwear prices. There was a 5.8 percent increase in housing costs and utility prices during the month, and a 3.7 percent rise in transportation costs.
On a monthly basis, the consumer price index dropped 0.3 percent in May, faster than the 0.1 percent fall economists had forecast, data showed.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.