South Africa’s May economic indicators point to cautious momentum. Mining output edged 0.2% higher year-on-year, with iron ore, nickel, diamonds, chromium ore, copper, and gold offsetting drops in manganese ore, coal, and platinum group metals, Stats SA reported. Manufacturing snapped a six-month slide, rising modestly as five of ten divisions improved; metals and machinery led the rebound, though motor-vehicle production slumped 15.6% and kept the overall lift subdued.

Motor-trade sales climbed 4.7% on solid demand for used cars, accessories, fuel, and new vehicles. Retail turnover notched its fifteenth consecutive increase, up 4.2%, buoyed by textiles, clothing, and general dealers, while food and beverage chains lagged. Restaurants, catering, and fast-food outlets also stayed firmly in growth territory.

Headline consumer inflation cooled to 3.0%, comfortably inside the Reserve Bank’s target band, yet meat costs remain a worry, with stewing beef averaging R118.02 per kilogram and rump steak reaching R194.09, both more than 20% higher year on year. Vegetable prices also firmed, particularly beetroot, lettuce, and carrots, although white rice, cereals, milk, and eggs eased. Producer prices ticked up to 0.6% from May’s 0.1%, hinting at upstream pressure.