Inflation in South Africa
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
|Inflation Rate (CPI, annual variation in %)||5.8||6.1||4.6||6.3||5.3|
5 years of economic forecasts for more than 30 economic indicators.
South Africa Inflation Chart
Source: Statistics South Africa.
South Africa Facts
|Bond Yield||8.10||0.29 %||Sep 04|
|Exchange Rate||14.81||-0.21 %||Sep 04|
|Stock Market||0.1||-0.44 %||Sep 04|
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September 10, 2019
The contraction of the manufacturing sector eased in July.
September 4, 2019
In August, the IHS Markit Purchasing Managers’ Index (PMI) regained lost ground in August, climbing to 49.7 from 48.4 in July.
September 3, 2019
South Africa’s economy escaped technical recession in the second quarter, bouncing back from the first-quarter’s marked contraction, leading to gains in the rand.
August 21, 2019
Consumer prices rose 0.4% over the previous month in July, matching June’s month-on-month upturn.
August 16, 2019
On 16 August, the rand traded at 15.23 per USD, a 8.7% depreciation from the same day in July.