Inflation in South Africa

South Africa Inflation | Economic News & Forecasts

South Africa - Inflation

Inflation comes in at highest level since March 2017 in December

Consumer prices rose 0.57% over the previous month in December, picking up from the 0.49% increase seen in November. December's uptick marked the highest reading since July. Looking at the details of the release, prices for housing and utilities, as well as for food and non-alcoholic beverages increased at faster rates in December. Meanwhile, transportation prices grew at a softer pace.

Inflation rose to 5.9% in December, above November’s 5.5%. December's result marked the highest inflation rate since March 2017. Annual average inflation rose to 4.6% in December (November: 4.3%). Lastly, core inflation rose to 3.4% in December, from the previous month's 3.3%.

FocusEconomics Consensus Forecast panelists see inflation averaging 4.6% in 2022, which is up 0.1 percentage points from last month’s estimate, and 4.3% in 2023.

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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