Inflation in South Africa

South Africa Inflation | Economic News & Forecasts

South Africa - Inflation

Inflation softens in August

Inflation came in at 7.6% in August, which was down from July’s 7.8%. The softer rise was primarily driven by slower growth in prices for housing and utilities. Moreover, prices for recreation and culture also grew at a more subdued pace.

Stil, the trend pointed up, as annual average inflation rose to 6.2% in August (July: 5.9%). Meanwhile, core inflation edged down to 4.4% in August, from July’s 4.6%.

Finally, consumer prices rose 0.19% over the previous month in August, moderating from July's 1.54% rise. August's result marked the softest rise in prices since May 2021.

FocusEconomics Consensus Forecast panelists see inflation averaging 6.7% in 2022, which is up 0.1 percentage points from last month’s estimate, and 5.2% 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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