Inflation in South Africa
South Africa - Inflation
Inflation drops in June
Consumer prices increased 0.20% over the previous month in June, accelerating from May's 0.08% increase. Looking at the details of the release, transportation prices rose in June after dropping in the previous month, while price pressures for housing and utilities intensified.
Inflation fell to 4.9% in June, from May’s 5.2%. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 3.5% in June (May: 3.3%). Lastly, core inflation ticked up to 3.2% in June, from the previous month's 3.1%.
FocusEconomics Consensus Forecast panelists see inflation averaging 4.3% in 2021, which is up 0.2 percentage points from last month’s estimate, and 4.4% in 2022.
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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July 22, 2021
At its meeting on 22 July, the Monetary Policy Committee of the South African Reserve Bank (SARB) unanimously decided to leave the repurchase rate on hold at 3.50%, which was in line with market expectations. The decision to hold fire largely came on the back of uncertain growth prospects and a relatively contained inflation outlook.
July 21, 2021
Consumer prices increased 0.20% over the previous month in June, accelerating from May's 0.08% increase.
July 12, 2021
Manufacturing production rose 35.3% year-on-year in May (April: +88.1% yoy), partly reflecting a low base effect.
July 5, 2021
The South Africa IHS Markit Purchasing Managers’ Index (PMI) came in at 51.0 in June, down from May's 53.2.
June 23, 2021
Consumer prices rose 0.08% over the previous month in May, coming in below April's 0.67% increase.