South African inflation hits 30-month high ...Middle East

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South African inflation hits 30-month high
JOHANNESBURG: South Africa’s headline consumer price inflation rose to a 30-month high in May, driven by surging food and fuel prices, official data showed Wednesday.Inflation reached 5.2% year-on-year in May, and up from 4.4% in April, according to Statistics South Africa.“This is the highest reading since November 2018 when the rate was also 5.2%,“ said director for price statistics Marietjie Bennett.Food and non-alcoholic beverage price increases accelerated to 6.7% in May from 6.3% the previous month. Such inflation had not been seen since July 2017.The agency said petrol prices were 41.8% higher in May compared to the same month in the previous year.It also warned that cooking oil had s

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