South Africa's consumer price inflation accelerated further in May to the highest level in nearly two years amid higher fuel costs, figures from Statistics South Africa showed on Wednesday.
The consumer price index, or CPI, climbed 4.5 percent year-on-year in May, faster than the 4.0 percent rise in the previous month. The expected inflation rate was 4.7 percent.
Moreover, this was the highest inflation rate since July 2024, when prices rose 4.6 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.