RTTNews - Wednesday, the Statistics South Africa announced that the consumer price index or CPI rose 8% year-over-year in May, slower than the 8.4% increase in the previous month. Economists were looking for an increase of 7.9%.

Food and non-alcoholic beverages prices grew 12.3% annually in May, compared to the 13.7% rise in the previous month. At the same time, clothing and footwear prices rose 5%, while transport charges grew 0.5%.

On a monthly basis, the CPI increased 0.4% in May, after rising 0.5% in April. Economists had expected an increase of 0.3%.

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