Annual consumer price inflation in South Africa rose to 5. 0 percent in June, marking a 0. 5 percent increase from May and the highest inflation rate since June 2024, according to the South African Reserve Bank’s latest figures.
The uptick in inflation is attributed to rising costs in transport, housing, and utilities sectors.
The monthly inflation rate was 0. 7 percent, which is consistent with the previous month’s increase. Transportation costs have been a major driver of the inflation, with fuel prices contributing significantly.
In June, passenger transport inflation surged by 8. 1 percent monthly, driven by the rising fuel prices. This led to an annual inflation rate of 12.
5 percent for the category, up from 4. 0 percent in May. Housing costs have also continued to climb, with rentals increasing by 1.
1 percent between the March and June quarters.
The annual increase in rental costs for townhouses was 5. 4 percent, followed by flats at 4. 6 percent and houses at 3.
7 percent.
The South African government is facing the challenge of balancing economic stability with the welfare of its citizens as it seeks measures to address the inflationary pressures.
The effectiveness of the government’s response to the current inflation situation will be closely watched by the public and experts alike.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: enca
Source: Nokuthula Khanyile
