Consumer inflation slows to 2.1% y/y in May

South Africa’s headline consumer inflation slowed to 2.1% year-on-year in May, its lowest in more than 15 years, from 3.0% in April, data from Statistics South Africa showed on Wednesday.

On a month-on-month basis, the consumer price index was at -0.6% in May from a 0.5% decrease the previous month.

Core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, slowed to 3.1% year-on-year in May compared with a rate of 3.2% in April. On a month-on-month basis core inflation was at -0.2% from the same rate previously.