South Africa Inflation December 2016

South Africa

South Africa: Inflation hits 10-month high in December

January 19, 2017

In December, consumer prices in South Africa increased 0.40% from the previous month, which followed November’s 0.32% increase. According to Statistics South Africa, December’s result mainly reflected higher prices for food and non-alcoholic beverages.

Inflation increased from 6.6% in November to 6.8% in December, the highest reading in 10 months. This brings inflation further above the upper threshold of the Central Bank’s target range of 3.0%–6.0%. Annual average inflation edged up from 6.2% in November to 6.3% in December.

Core consumer prices, which exclude prices for food, fuel and electricity, rose 0.4% over the previous month, which was above the 0.1% increase observed in the previous month. Finally, annual core inflation inched up from 5.8% in November to 6.0% in December, the highest reading since January 2010.

FocusEconomics Consensus Forecast panelists expect inflation to average 5.9% in 2017, which is unchanged from last month’s forecast. In 2018, the panel sees average inflation of 5.7%.

Author:, Senior Economist

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South Africa Inflation Chart

South Africa Inflation December 2016 0

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

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