South Africa Inflation September 2016

South Africa

South Africa: Inflation edges up in September

October 19, 2016

In September, consumer prices increased 0.16% from the previous month, which contrasted August’s 0.08% decrease. The previous month’s reading had marked the first month-on-month decrease in over a year. According to Statistics South Africa, September’s result mainly reflected higher prices for food and non-alcoholic beverages.

Inflation edged up from 5.9% in August to 6.1% in September. This brings inflation just above the upper threshold of the Central Bank’s target range of 3.0%–6.0%. Annual average inflation inched up from 5.8% in August to 5.9% in September.

Core consumer prices, which exclude prices for food, fuel and electricity, rose 0.3% over the previous month, which was above the 0.2% increase observed in the previous month. Finally, annual core inflation inched down from August’s 5.8% to 5.7% in September.

FocusEconomics Consensus Forecast panelists expect inflation to average 5.9% in 2016, which is unchanged from last month’s forecast. In 2017, the panel sees average inflation of 5.7%.

Author:, Senior Economist

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South Africa Inflation Chart

South Africa Inflation September 2016

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

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