Inflation in South Africa

South Africa Inflation | Economic News & Forecasts

South Africa - Inflation

Inflation edges down to seven-month low in September

Consumer prices climbed 0.3% over the previous month in September, matching the month-on-month upturn in August. Higher costs for housing and utilities were the main drivers of the overall increase. Meanwhile, prices for food and non-alcoholic beverages, and transport—which also carry significant weight in the index—rose at a slightly softer pace,

Inflation edged down to 4.1% in September from 4.3% in August, further below the midpoint of the South African Reserve Bank’s (SARB) target band of 3.0%–6.0%. September’s print was the lowest in seven months. Meanwhile, core inflation fell to 4.0% in September from 4.3% in August. Lastly, annual average inflation inched down to 4.4% from 4.5% in the previous month.

The SARB sees inflation averaging 5.1% in 2020 and 4.7% in 2021. FocusEconomics Consensus Forecast panelists see inflation averaging 4.9% in 2020, which is down 0.1 percentage points from last month’s estimate, and also 4.9% in 2021.

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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