South Africa Inflation April 2020

South Africa

South Africa: Inflation drops to lowest level since June 2005 in April

June 25, 2020

Consumer prices dropped 0.52% in April over the last month, contrasting March's 0.30% rise. April's result marked the sharpest fall in prices since December 2008. The result was chiefly driven by falling prices for housing and utilities. In addition, prices for alcoholic beverages and tobacco also dropped.

Inflation came in at 3.0% in April, below March’s 4.1%. April's result was the weakest inflation rate since June 2005. Meanwhile, the trend pointed down mildly, with annual average inflation coming in at 4.1% in April (March: 4.2%). Core inflation fell to 3.2% from March’s 3.7%.

FocusEconomics Consensus Forecast panelists see inflation averaging 4.2% in 2020, which is unchanged from last month’s estimate, and 4.7% in 2021.

Author:, Economist

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South Africa Inflation Chart

South Africa Inflation April 20 20

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

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