Inflation in South Africa

South Africa Inflation | Economic News & Forecasts

South Africa - Inflation

Inflation continues its downward trend in December

Inflation fell to 7.2% in December, easing slightly from November’s 7.4%. December's reading marked the lowest inflation rate since May. Looking at the details of the release, prices for housing and utilities grew at a softer rate in December. Additionally, prices for food and non-alcoholic beverages rose at a marginally slower pace compared to the previous month's reading.

Still, the trend pointed up; annual average inflation ticked up to 6.9% in December (November: 6.8%). Meanwhile, core inflation edged down to 4.9% in December, from the previous month's 5.0%.

Finally, consumer prices rose 0.37% from the previous month in December, picking up from November's 0.28% increase.

FocusEconomics Consensus Forecast panelists see inflation averaging 5.6% in 2023, which is up 0.2 percentage points from last month’s estimate, and 4.6% in 2024.

South Africa - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)4.6  6.3  5.3  4.6  4.1  

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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

Value Change Date
Bond Yield8.260.29 %Dec 31
Exchange Rate13.98-0.21 %Dec 31
Stock Market0.1-0.44 %Jan 06

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