South Africa Inflation October 2020

South Africa

South Africa: Inflation hits seven-month high in October

November 25, 2020

Consumer prices increased 0.26% in October over the previous month, picking up from September's 0.17% increase. Looking at the details of the release, price pressures for food and non-alcoholic beverages picked up pace, while prices for housing and utilities were broadly stable in October.

Inflation came in at 3.3% in October, up from September’s 3.0%. October's result marked the highest inflation rate since March. Meanwhile, the trend was unchanged with annual average inflation coming in at September's 3.4% in October. Lastly, core inflation ticked up to 3.4% from the previous month's 3.3%.

FocusEconomics Consensus Forecast panelists see inflation averaging 4.0% in 2021, which is unchanged from last month’s estimate, and 4.4% in 2022.

Author:, Economist

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South Africa Inflation Chart

South Africa Inflation October 20 20 0

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

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