The consumer price inflation rate has increased to 4.5% in May, from 4.4% in April 2019.
Economist at NKC African Economists, Elize Kruger, expects inflation to remain unchanged as Stats SA prepares to release the consumer prices inflation number for May 2019 on Wednesday.
Venezuela ended 2018 with 130.060% inflation, while the economy contracted 47.6% between 2013 and 2018, the central bank said Tuesday in the first such figures it has released in three years.
A key measure of US consumer inflation in April took its biggest jump in five months as prices for fuel, shelter and medical care rose, government data showed Friday.
Consumer price inflation is expected to stay within the South African Reserve banks 3 to 6 percent target band.
Economists say the sharp fuel increase is expected to push inflation up. The price of fuel and diesel will increase at midnight.
Economists in Zimbabwe’s say inflation rate has hit 290%- the second highest in the world after Venezuela.
Statistics South Africa has reported that the consumer price inflation increased to 5.2% in November, from 5.1% in October 2018. Contributions to the increase came from food, non-alcoholic beverages and fuel costs.
The South African Federation of Trade Unions General Secretary Zwelinzima Vavi says Members of Parliament deserve a salary increase which is below inflation.
Inflation in Zimbabwe soared last month to its highest level since 2008, official data showed on Tuesday, after a severe dollar shortage led to a surge in prices of food, drinks and clothes.