Inflation in South Africa
South Africa - Inflation
Inflation touches 10-month low in January
Consumer prices fell 0.2% from a month earlier in January, in line with December’s outturn but landing below analysts’ expectations. Sharply lower fuel costs were behind the reading, and more than offset higher food costs. To that effect, core consumer prices—which exclude food and fuel prices—rose 0.2%, down from 0.3% in December.
Inflation dropped to 4.0% (December: 4.5%), falling below the midpoint of the South African Reserve Bank (SARB)’s target band of 3.0%–6.0%. Core inflation was stable from December at 4.4%, while annual average inflation was stable at 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 5.1% in 2019, which is unchanged from last month’s forecast. The panel projects average inflation at 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 | 8.66 | 0.29 % | Mar 11 |
| Exchange Rate | 14.37 | -0.21 % | Mar 11 |
| Stock Market | 0.6 | -0.44 % | Mar 11 |
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Economic News
South Africa: Manufacturing stalls once more in January
March 18, 2019
A preliminary estimate revealed little improvement for the manufacturing sector at the outset of the year.
South Africa: Fixed investment weighs on consumer spending- and net export-led growth in Q4 2018
March 5, 2019
South Africa’s economy slumped through last year-end but nonetheless expanded modestly in seasonally-adjusted and annualized (saar) terms.
South Africa: Private-sector output stabilizes in February
March 5, 2019
In February, the Standard Bank Purchasing Managers’ Index (PMI) climbed 0.6 points to 50.2 points, landing above the 50-point threshold that distinguishes improvement from deterioration in the South African private sector for the first time in eight months. February’s reading reflected a more moderate fall in new orders, as well as stabilizing output on the heels of a seven-month decline.
South Africa: Inflation touches 10-month low in January
February 20, 2019
Consumer prices fell 0.2% from a month earlier in January, in line with December’s outturn but landing below analysts’ expectations.
South Africa: Manufacturing gains muted in December
February 12, 2019
A preliminary estimate showed an ailing manufacturing sector in December.
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