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South Africa’s May Inflation Holds Steady, But Risks Loom on the Horizon | Anchor | SA News

South Africa’s (SA) May headline consumer inflation (CPI) held steady at 2.8% YoY, unchanged from April. While fuel disinflation continued to exert downward pressure, this was counterbalanced by a modest rise in food prices and a stable core inflation print. On a monthly basis, inflation eased to 0.1% from 0.2% in April, signalling some short-term cooling. Underlying metrics also pointed to a softening trend: the 3-month annualised inflation rate slowed to 0.3% (from 0.5%), while the 6-month rate decelerated to 1.9% (from 2.9%). These data suggest that demand-side price pressures remain muted — a theme further reinforced by the unchanged core CPI (which strips out volatile components…

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