South Africa Inflation August 2020

South Africa

South Africa: Inflation recedes in August

September 30, 2020

Consumer prices rose 0.17% from the previous month in August, coming in below the 1.31% rise logged in July and marking the softest rise in prices since May. The result was largely driven by moderating price pressures for housing and utilities as well as for transportation. Prices for alcoholic beverages and tobacco goods also grew at a more subdued pace compared to the previous month.

Inflation came in at 3.1% in August, down slightly from July’s 3.2%. Accordingly, the trend pointed down mildly, with annual average inflation coming in at 3.5% in August (July: 3.6%). Lastly, core inflation rose to 3.3% from the previous month's 3.2%.

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

Author:, Economist

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South Africa Inflation Chart

South Africa Inflation August 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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