South Africa Inflation March 2022

South Africa

South Africa: Inflation rises in March

April 20, 2022

Consumer prices increased 0.99% in March over the previous month, picking up from February's 0.60% rise. March's figure was the highest reading since July 2021. The increase was primarily driven by rising prices for housing and utilities. In addition, price pressures for transportation rose at a quicker rate.

Inflation inched up to 5.9% in March from February’s 5.7%. Consequently, annual average inflation rose to 5.9% in March (February: 5.7%). Lastly, core inflation rose to 3.8% in March, from February’s 3.5%.

FocusEconomics Consensus Forecast panelists see inflation averaging 5.3% in 2022, which is up 0.4 percentage points from last month’s estimate, and 4.5% in 2023.


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South Africa Inflation Chart

South Africa Inflation March 2022

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

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