Inflation in South Africa

South Africa Inflation | Economic News & Forecasts

South Africa - Inflation

Inflation lands at SARB’s midpoint target in May

Consumer prices increased 0.3% month-on-month in May, down from 0.6% in April. May’s outturn was attributable mainly to rising fuel costs. Core consumer prices, in turn, were flat from April (April: +0.3% month-on-month).

Inflation picked up to 4.5% (April: 4.4%), landing at the midpoint of the South African Reserve Bank’s (SARB) target band of 3.0%–6.0%. Core inflation, meanwhile, was stable from April at 4.1%. Lastly, annual average inflation was stable from April at 4.6%.

The SARB sees inflation averaging 4.8% in 2019 and 5.3% in 2020. FocusEconomics Consensus Forecast panelists see inflation averaging 4.6% in 2019, which is down 0.2 percentage points from last month’s forecast. Our panel sees inflation averaging 5.2% in 2020.

South Africa - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)5.8  6.1  4.6  6.3  5.3  

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South Africa Inflation Chart

South Africa Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics South Africa.

South Africa Facts

Bond Yield8.030.29 %Jul 11
Exchange Rate13.94-0.21 %Jul 11
Stock Market0.1-0.44 %Jul 11

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