Inflation in South Africa
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 |
South Africa Inflation Chart
Source: Statistics South Africa.
South Africa Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 8.53 | 0.29 % | May 13 |
| Exchange Rate | 14.31 | -0.21 % | May 13 |
| Stock Market | 0.6 | -0.44 % | May 13 |
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Economic News
South Africa: Private-sector business conditions stabilize in April
May 12, 2019
In April, the Standard Bank Purchasing Managers’ Index (PMI) rose 0.5 points to 50.3 points, landing above the 50-point threshold that distinguishes an improvement of private-sector business conditions for only the second time in ten months. April’s modest upturn reflected a stabilization of output—which had previously fallen for nine straight months.
South Africa: Manufacturing gains pick up in March
May 10, 2019
Manufacturing output increased 1.2% year-on-year in March, up from a revised 0.5% increase in February (previously reported: +0.6% year-on-year).
South Africa: Inflation lands at Central Bank’s target in March
April 17, 2019
Consumer prices rose 0.8% from a month earlier in March, matching February’s 0.8% increase.
South Africa: Ramaphosa’s economic reforms, majority for the ANC expected to survive general elections
April 12, 2019
Cyril Ramaphosa’s presidency and his promised “new dawn”, which hinges on the further implementation of sorely-needed economic reforms, will be on the ballot when South Africans head to the polls on 8 May.
South Africa: Manufacturing gains narrow in February
April 11, 2019
A preliminary estimate revealed little improvement for the manufacturing sector in February.
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