Inflation accelerates slightly in May

Inflation accelerated slightly to 4.5% in May.

Measured by the annual change in the consumer price index (CPI), inflation accelerated from April’s 4.4% — but remained at the midpoint of the Reserve Bank’s 3%-6% target band.

While petrol prices continued to rise in May by 54c/l, subdued food price growth and underlying inflation countered this.

Business Day TV spoke to Executive Chief Economist at Alexander Forbes Isaah Mhlanga to find out if the latest inflation print would be enough to convince the Reserve Bank to cut interest rates at its next MPC meeting.
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