Johannesburg - South Africa's targeted CPIX inflation quickened to 6.4% year-on-year in May, from 6.3% in April, slightly above the market expectation, official data showed on Wednesday.
Statistics South Africa also said that the all-items consumer price index (CPI) increased by an annual rate of 6.9% in May, compared with 7.0% in April.
On a monthly basis, CPIX rose by 0.6% compared with 1.2% growth previously, while headline CPI increased by 0.6% month-on-month.
A Reuters poll forecast that CPIX would be unchanged at 6.3% year-on-year and predicted a rise of 0.6% month-on-month. The CPI was seen at 7.0% year-on-year and 0.6% month-on-month.
The biggest contributors to the rise in inflation are:
food (+2.4 percentage points),
transport (+1.1 of a percentage point),
housing (+0.7 of a percentage point),
medical care and health expenses (+0.5 of a percentage point),
household operation (+0.5 of a percentage point),
education (+0.4 of a percentage point) and
fuel and power (+0.3 of a percentage point.)
