Inflation in South Africa

South Africa Inflation | Economic News & Forecasts

South Africa - Inflation

Inflation lands at Central Bank’s target in March

Consumer prices rose 0.8% from a month earlier in March, matching February’s 0.8% increase. March’s reading largely reflected higher prices for alcoholic beverages and tobacco, and fuel. Core consumer prices—which exclude food and fuel prices—climbed 0.7%, down from 1.1% in February.

Meanwhile, inflation rose to 4.5% in March (February: 4.1%), landing at the midpoint of the South African Reserve Bank (SARB)’s target band of 3.0%–6.0%. Core inflation was stable from a month prior at 4.4%, while annual average inflation was unchanged at February’s 4.6%.


South Africa Inflation Forecast


The SARB sees inflation averaging 4.8% in 2019 and 5.3% in 2020. FocusEconomics Consensus Forecast panelists see inflation averaging 4.8% in 2019, which is down 0.2 percentage points from last month’s forecast. Our panel sees inflation averaging 5.2% in 2020.

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 Yield8.530.29 %May 13
Exchange Rate14.31-0.21 %May 13
Stock Market0.6-0.44 %May 13

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