South African Inflation Holds Steady as Conflict Clouds Outlook

South African inflation rate held steady in May as uncertainty around the outlook for price-growth mounts, complicating the task for the central bank when it meets to discuss its monetary policy stance next month.

Consumer prices rose 2.8% from a year earlier, the same rate as the prior month, Pretoria-based Statistics South Africa said on Wednesday in a statement on its website. That matched the median estimate of 12 economists in a Bloomberg survey. Prices rose 0.2% in the month.