Inflation in South Africa

South Africa Inflation | Economic News & Forecasts

South Africa - Inflation

Inflation slides to six-month low in July

Consumer prices rose 0.4% over the previous month in July, matching June’s month-on-month upturn. July’s print reflected a faster rise in the prices for housing and utilities, which more than offset a marked fall in transport costs. Core consumer prices, also, jumped 0.4% in July, mirroring June’s result.

Meanwhile, inflation slid to 4.0% in July from 4.5% in June, thus moving below the midpoint of the South African Reserve Bank’s (SARB) target band of 3.0%–6.0%. July’s reading was the lowest in six months. Core inflation, fell to 4.2% in July from 4.3% in June. meanwhile, edged up to 4.3% from 4.1% in May. Lastly, annual average inflation inched down to 4.5% from 4.6% in June.

The SARB sees inflation averaging 4.4% in 2019 and 5.1% in 2020. FocusEconomics Consensus Forecast panelists see inflation averaging 4.5% in 2019, which is down 0.1 percentage points from last month’s forecast. Our panel sees inflation averaging 5.0% 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

ValueChangeDate
Bond Yield8.100.29 %Sep 04
Exchange Rate14.81-0.21 %Sep 04
Stock Market0.1-0.44 %Sep 04

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