South Africa Inflation January 2021

South Africa

South Africa: Inflation ticks up in January

February 17, 2021

Consumer prices rose 0.34% in January over the previous month, picking up from the 0.17% increase recorded in December and marking the sharpest increase in prices since July 2020. Looking at the details of the release, transportation prices rose at a quicker pace in January compared to the previous month, while prices pressures for food and non-alcoholic beverages also picked up pace. In addition, prices for alcoholic beverages and tobacco also gained steam.

Inflation came in at 3.2% in January, which was up from December’s 3.1%. Annual average inflation ticked down to 3.2% in January (December: 3.3%). Lastly, core inflation was unchanged, coming in at December's 3.3% in January.

FocusEconomics Consensus Forecast panelists see inflation averaging 3.9% in 2021, which is down 0.1 percentage points from last month’s estimate, and 4.3% in 2022.

Author:, Economist

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South Africa Inflation Chart

South Africa Inflation January 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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