South Africa Inflation July 2021

South Africa

South Africa: Inflation declines to three-month low in July

August 18, 2021

Consumer prices increased 1.08% in July over the previous month, after the 0.20% increase logged in June. July's result was the sharpest increase in prices in a year. The reading was driven by rising prices for housing and utilities, as well as for transportation.

Inflation inched down to a three-month low of 4.6% in July, following June’s 4.9%. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 3.7% in July (June: 3.5%). Lastly, core inflation edged down to 3.0% in July, from June’s 3.2%.

FocusEconomics Consensus Forecast panelists see inflation averaging 4.3% in 2021, which is up 0.2 percentage points from last month’s estimate, and 4.4% in 2022.

Author:, Junior Economist

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South Africa Inflation Chart

South Africa Inflation July 2021

Note: Annual and monthly variation of consumer prices index in %.
Source: Statistics South Africa (Stats SA) and FocusEconomics calculations

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