Inflation in South Africa
South Africa - Inflation
Inflation edges down to seven-month low in September
Consumer prices climbed 0.3% over the previous month in September, matching the month-on-month upturn in August. Higher costs for housing and utilities were the main drivers of the overall increase. Meanwhile, prices for food and non-alcoholic beverages, and transport—which also carry significant weight in the index—rose at a slightly softer pace,
Inflation edged down to 4.1% in September from 4.3% in August, further below the midpoint of the South African Reserve Bank’s (SARB) target band of 3.0%–6.0%. September’s print was the lowest in seven months. Meanwhile, core inflation fell to 4.0% in September from 4.3% in August. Lastly, annual average inflation inched down to 4.4% from 4.5% in the previous month.
The SARB sees inflation averaging 5.1% in 2020 and 4.7% in 2021. FocusEconomics Consensus Forecast panelists see inflation averaging 4.9% in 2020, which is down 0.1 percentage points from last month’s estimate, and also 4.9% in 2021.
South Africa - Inflation Data
|Inflation Rate (CPI, annual variation in %)||5.8||6.1||4.6||6.3||5.3|
5 years of economic forecasts for more than 30 economic indicators.
South Africa Inflation Chart
Source: Statistics South Africa.
South Africa Facts
|Bond Yield||8.10||0.29 %||Sep 04|
|Exchange Rate||14.81||-0.21 %||Sep 04|
|Stock Market||0.1||-0.44 %||Sep 04|
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South Africa: Medium-Term Budget Policy Statement lays bare fiscal deterioration, threatening South Africa’s debt ratings
November 11, 2019
The Medium-Term Budget Policy Statement (MTBPS) presented by Finance Minister Tito Mboweni on 30 October revealed the bleak state of South Africa’s public finances, with budget shortfalls projected to exceed over 6.0% of GDP over the next three years.
November 7, 2019
Manufacturing output fell 2.4% year-on-year in September following a revised 1.5% drop in August (previously reported: -1.8% year-on-year).
November 5, 2019
Business conditions in South Africa’s private sector worsened for the sixth month running in October, although the rate of contraction in activity eased slightly from the previous month.
October 23, 2019
Consumer prices climbed 0.3% over the previous month in September, matching the month-on-month upturn in August.
October 10, 2019
Conditions in the manufacturing sector deteriorated in August.