May inflation surprises to the downside

Consumer Price Inflation slowed to 4.4% in May, just below economist's expectations of a rise to 4.6%. This as food prices rose at its slowest pace since 2013 but weighing on the index is fuel inflation, it rose by 3.6% month-on-month in May with the annual rate rising to 9.4%. The rand meanwhile is at its weakest level in nearly 7-months and the South African Reserve Bank has already indicated that it may hike interest rates if the weak rand boosts inflation. Kevin Lings, Chief Economist at Stanlib joined Business Day Tv to discuss what this print suggests for the inflationary trajectory going forward.