South Africa Inflation July 2018

South Africa

South Africa: Inflation hits 10-month high in July

August 22, 2018

Consumer prices rose 0.8% from a month earlier in July, twice as fast as June’s 0.4% month-on-month increase. July’s reading was driven largely by rising household and utility costs, while higher fuel costs contributed marginally. As such, core consumer prices—which exclude food and energy prices—rose 0.6% from a month earlier.

Inflation climbed to 5.1% from 4.6% in June, matching analysts’ expectations as higher fuel costs and the weak rand hit consumers. Meanwhile, core inflation ticked up to 4.3% from 4.2% in June. For its part, annual average inflation edged higher to 4.6% from 4.5%.

FocusEconomics Consensus Forecast panelists see inflation averaging 5.1% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees inflation averaging 5.3%.


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South Africa Inflation Chart

South Africa Inflation July 2018

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

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