South Africa Inflation November 2020

South Africa

South Africa: Inflation slides in November

December 9, 2020

Consumer prices were flat in November over the previous month, following October's 0.26% increase. November's reading marked the weakest result since May. Looking at the details of the release, transportation prices fell at a quicker pace compared to the previous month, while prices pressures for food and non-alcoholic beverages eased. In addition, prices for alcoholic beverages and tobacco dropped.

Inflation edged down to 3.2% in November, from October’s 3.3%. Meanwhile, the trend was unchanged with annual average inflation coming in at October's 3.4% in November. Lastly, core inflation ticked down to 3.3% from October’s 3.4%.

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 November 20 20

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

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