Inflation in South Africa
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 |
South Africa Inflation Chart
Source: Statistics South Africa.
South Africa Facts
| Value | Change | Date | |
|---|---|---|---|
| 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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Economic News
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South Africa: SARB meets expectations and delivers another 75 basis point hike in September
September 22, 2022
At its 22 September meeting, the Monetary Policy Committee of the South African Reserve Bank (SARB) increased the repurchase rate by a further 75 basis points, bringing it to 6.25%.
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South Africa: Inflation softens in August
September 21, 2022
Inflation came in at 7.6% in August, which was down from July’s 7.8%.
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South Africa: Decline in manufacturing production softens in July
September 8, 2022
Manufacturing output slid 0.2% month-on-month in seasonally-adjusted terms in July (June: -2.0% mom).
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South Africa: Economic activity declines in Q2
September 6, 2022
Underlying momentum weakened in the second quarter of 2022, as GDP dropped 0.7% on a seasonally adjusted quarter-on-quarter (s.a.
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South Africa: Business conditions improve at softer pace in August
September 5, 2022
The S&P Global Purchasing Managers’ Index (PMI) fell to 51.7 in August from July's 52.7.
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