South Africa Inflation February 2021

South Africa

South Africa: Inflation hits eight-month low in February

March 24, 2021

Consumer prices rose 0.68% in February over the previous month, accelerating from January's 0.34% increase, marking the sharpest increase in prices since July 2020. Looking at the details of the release, transportation prices rose markedly compared to the previous month, while price pressures for alcoholic beverages and tobacco gained steam.

Consumer prices dropped to 2.9% in February, from January’s 3.2%. February's figure marked the lowest inflation rate since June 2020. Annual average inflation edged down to 3.0% in February (January: 3.2%). Lastly, core inflation fell to 2.6% from January’s 3.3%.

FocusEconomics Consensus Forecast panelists see inflation averaging 4.0% in 2021, which is up 0.1 percentage points from last month’s estimate, and 4.3% in 2022.

Author:, Economist

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South Africa Inflation Chart

South Africa Inflation February 2021

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

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