South Africa Inflation Climbs To 2-year High

(RTTNews) - South Africa's consumer price inflation accelerated further in June to the highest level in two years amid soaring fuel costs, figures from Statistics South Africa showed on Wednesday.

The consumer price index, or CPI, climbed 5.0 percent year-on-year in June, faster than the 4.5 percent rise in the previous month. Moreover, this was the highest inflation rate since June 2024, when prices rose 5.1 percent.

Inflation based on transportation quickened to 12.7 percent from 9.4 percent amid a 34.3 percent surge in fuel costs. The annual price growth in housing and utilities accelerated slightly to 5.5 percent from 5.3 percent. Meanwhile, prices for food and non-alcoholic beverages grew at a slower pace of 1.6 percent versus a 1.9 percent increase in May.

Excluding food and non-alcoholic beverages, fuel, and energy, core inflation accelerated to 4.1 percent from 3.8 percent in May.

On a monthly basis, consumer prices moved up 0.7 percent in June.