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    Thursday, July 16

    South Africa’s Inflation Rises to 4.5% in May

    Julius AlagbeBy News No Comments1 Min Read
    South Africa’s Inflation Rises to 4.5% in May

    South Africa’s Inflation Rises to 4.5% in May

    South Africa’s annual inflation rate jumped to its highest level in almost two years in May, driven by surging energy prices fanned by the US-Israeli war with Iran.

    Consumer prices rose 4.5% compared with 4% in April, Pretoria-based Statistics South Africa said in a statement on its website Wednesday.

    In month-on-month terms, inflation was 0.7% in May, down from 1.1% in April. South Africa’s central bank targets inflation of 3%, with a 1-percentage-point tolerance band on either side.

    At its last monetary policy meeting in May, the South African Reserve Bank (SARB) raised its main lending rate for the first time in three years. Its next scheduled policy meeting is on July 23.

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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