JOHANNESBURG, June 20 (Reuters) – South Africa’s consumer
inflation braked more than expected to 5.7 percent year-on-year
in May from 6.1 percent in April, returning to the central
bank’s 3-6 percent target band, Statistics South Africa said on
Wednesday.
On a month-on-month basis inflation also surprised to the
downside, easing to 0.1 percent compared to 0.4 percent in
April.
Economists in a Reuters poll had expected CPI to ease to
5.95 on a year-on-year basis and prices to remain unchanged at
0.4 percent on a montly basis.
(Reporting by Xola Potelwa; Editing by Ed Cropley)
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