Inflation in South Africa
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
|Inflation Rate (CPI, annual variation in %)||4.6||6.3||5.3||4.6||4.1|
5 years of economic forecasts for more than 30 economic indicators.
South Africa Inflation Chart
Source: Statistics South Africa.
South Africa Facts
|Bond Yield||8.26||0.29 %||Dec 31|
|Exchange Rate||13.98||-0.21 %||Dec 31|
|Stock Market||0.1||-0.44 %||Jan 06|
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January 19, 2022
Consumer prices rose 0.57% over the previous month in December, picking up from the 0.49% increase seen in November.
January 11, 2022
Manufacturing output fell 0.7% in year-on-year terms in November, which was markedly softer than October's 8.5% decrease.
January 5, 2022
The IHS Markit Purchasing Managers’ Index (PMI) dropped to a five-month low of 48.4 in December from November’s six-month high of 51.7.
December 15, 2021
Consumer prices rose 0.49% in November over the previous month, accelerating from October's 0.24% increase.
December 9, 2021
Manufacturing output plunged 8.9% year-on-year in October (September: +0.7% yoy).