South Africa Inflation November 2021

South Africa

South Africa: Inflation jumps to near five-year high in November

December 15, 2021

Consumer prices rose 0.49% in November over the previous month, accelerating from October's 0.24% increase. November's figure marked the highest reading since July. Looking at the details of the release, transportation prices rose at a quicker pace in November compared to the previous month, while price pressures for food and non-alcoholic beverages eased.

Inflation rose to 5.5% in November, following October’s 5.0%. November's reading represented the highest inflation rate since March 2017. Consequently, annual average inflation rose to 4.3% in November (October: 4.1%). Finally, core inflation rose to 3.3% in November, from October’s 3.2%.

FocusEconomics Consensus Forecast panelists see inflation averaging 4.6% in 2022, which is up 0.1 percentage points from last month’s estimate, and 4.3% in 2023.


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South Africa Inflation November 2021 0

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


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