Inflation Monitor | MAY 2021

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The headline inflation rate in May 2021 accelerated to 5.2 % year on year.

The prices of food, transport, public transport and administered prices continue to drive inflation. The increases will greatly impact especially poor households.

Remember that inflation statistics refer to the past twelve months, while wage increases refer to the months to come. Union negotiators who are preparing for wage negotiations need to know the inflation rate for the coming month or year that has been predicted by SARB or economists.

Food items that became expensive in May 2021 were: Bread & Cereals 4.9%, Meat 8.5%, Fish 7%, Milk, Eggs & Cheese 5.7%, Oil & Fats – 20%, Vegetables – 6.6% and Sugar, Sweets & Desserts – 8.7%.

Other non-food items that became expensive in May 2021 were:

Water & other services – 5.9%, Electricity & other fuels – 6.2%, Fuel – 37.4%, Private transport operation – 30.5% and Tertiary – 5.1%.

 

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