CPI up again

2011-06-22 08:49

Consumer Price Inflation (CPI) rose in May to 4.6% year on year, Statistics SA said today.

“The official inflation rate (the percentage change in the CPI for all urban areas in May this year compared with that in May last year) was 4.6% at May 2011,” the agency said.

This was 0.4 of a percentage point higher than the corresponding yearly rate of 4.2% in April.

The figure is in line with the SA Reserve Bank’s target of keeping yearly CPI between 3% and 6%.

On average, prices increased by 0.5% between April 2011 and May 2011.

Food inflation contributed to the rise, particularly vegetables, oils and fats, bread and cereals, and hot beverages.

The prices of household contents and services also increased.

The transport index was a further contributor, mainly due to the 29 cents a litre increase in the petrol price, Stats SA said.

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