South Africa Inflation October 2021

South Africa

South Africa: Inflation remains steady in October

November 17, 2021

Consumer prices increased 0.24% in October over the previous month, below the 0.25% increase logged in September. October's result marked the softest rise in prices since June. Looking at the details of the release, prices for housing and utilities rose at a marginally slower pace in October, and price pressures for transport were stable.

Inflation came in at 5.0% in October, matching September’s reading. The trend improved, with annual average inflation edging up to 4.1% in October (September: 4.0%). Lastly, core inflation was stable, coming in at September's 3.2% in October.

FocusEconomics Consensus Forecast panelists see inflation averaging 4.5% 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 Chart

South Africa Inflation October 2021

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

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