South Africa Inflation June 2022

South Africa

South Africa: Inflation increases to over 13-year high in June

July 20, 2022

Consumer prices rose 1.07% from the previous month in June, accelerating from May's 0.68% increase. June's result marked the highest reading since July 2021. The result was driven by rising prices for housing and utilities and transportation.

Inflation increased to 7.4% in June, following May’s 6.5%. June's reading was the highest inflation rate since May 2009. Consequently, the trend pointed up mildly, with annual average inflation coming in at 5.7% in June (May: 5.5%). Lastly, core inflation rose to 4.4% in June, from May’s 4.1%.

FocusEconomics Consensus Forecast panelists see inflation averaging 6.4% in 2022, which is up 0.4 percentage points from last month’s estimate, and 5.0% in 2023.


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South Africa Inflation Chart

South Africa Inflation June 2022

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

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