South Africa Inflation December 2020

South Africa

South Africa: Inflation drops to three-month low in December

January 20, 2021

Consumer prices increased 0.17% in December over the previous month, after November's flat result. The figure was largely driven by rising prices for housing and utilities. In addition, price pressures for transportation also rebounded.

Inflation came in at 3.1% in December, which followed November’s 3.2%. December's figure represented the lowest inflation rate since September. Annual average inflation fell to 3.3% in December (November: 3.4%). Core inflation was steady, coming in at November's 3.3% in December.

FocusEconomics Consensus Forecast panelists see inflation averaging 4.0% in 2021, which is unchanged from last month’s estimate, and 4.3% in 2022.

Author:, Economist

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South Africa Inflation Chart

South Africa Inflation December 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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