BusinessLive reports that consumer inflation remained within the Reserve Bank's 3%-6% target range in May, with the consumer price index (CPI) ticking up to 5.4%, from 5.3% in April.  

Month-on-month, CPI inflation was 0.3% in May.  Prices of food and nonalcoholic beverages were up 6.9% from a year earlier, Statistics SA data showed on Wednesday.  This was slightly higher than in April, but well off last year's double-digit peaks.  NKC economist Elize Kruger said last week:  “May is historically a moderate food price month with a long-term average monthly growth rate of 0.5%.”  The transport index rose 5.2% from a year earlier, but within that, fuel prices were up 8% from a year earlier.

• Read this report by Sunita Menon in full at BusinessLive

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