Inflation in South Africa
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 |
South Africa Inflation Chart
Source: Statistics South Africa.
South Africa Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 8.03 | 0.29 % | Jul 11 |
| Exchange Rate | 13.94 | -0.21 % | Jul 11 |
| Stock Market | 0.1 | -0.44 % | Jul 11 |
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Economic News
South Africa: Manufacturing output loses steam in May
July 11, 2019
The manufacturing sector decelerated in May, with the annual growth of production slowing to 1.0% from a revised 4.3% expansion in April (previously reported: +4.6% year-on-year).
South Africa: Business conditions deteriorate at a softer rate in June
July 3, 2019
In June, the IHS Markit Purchasing Managers’ Index (PMI) rose from 49.3 in May to 49.7 in June.
South Africa: Inflation lands at SARB’s midpoint target in May
June 19, 2019
Consumer prices increased 0.3% month-on-month in May, down from 0.6% in April.
South Africa: Business conditions deteriorate in May
June 12, 2019
In May, the Standard Bank Purchasing Managers’ Index (PMI) fell 1.0 point to 49.3 points.
South Africa: Manufacturing gains jump in April
June 12, 2019
Manufacturing output increased 4.6% year-on-year in April, up from a revised 1.3% increase in March (previously reported: +1.2% year-on-year).
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