Inflation in South Africa
South Africa - Inflation
Inflation continues its downward trend in December
Inflation fell to 7.2% in December, easing slightly from November’s 7.4%. December's reading marked the lowest inflation rate since May. Looking at the details of the release, prices for housing and utilities grew at a softer rate in December. Additionally, prices for food and non-alcoholic beverages rose at a marginally slower pace compared to the previous month's reading.
Still, the trend pointed up; annual average inflation ticked up to 6.9% in December (November: 6.8%). Meanwhile, core inflation edged down to 4.9% in December, from the previous month's 5.0%.
Finally, consumer prices rose 0.37% from the previous month in December, picking up from November's 0.28% increase.
FocusEconomics Consensus Forecast panelists see inflation averaging 5.6% in 2023, which is up 0.2 percentage points from last month’s estimate, and 4.6% in 2024.
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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January 18, 2023
Inflation fell to 7.2% in December, easing slightly from November’s 7.4%.
January 10, 2023
Manufacturing output increased 2.0% in month-on-month seasonally adjusted terms in November, which contrasted October's 6.2% decrease.
January 5, 2023
The S&P Global Purchasing Managers’ Index (PMI) moderated to 50.2 in December, down from November’s 50.6.
December 14, 2022
Inflation dropped to 7.4% in November from October’s 7.6%.
December 8, 2022
Manufacturing output collapsed 6.3% in month-on-month seasonally adjusted terms in October, which contrasted September's 5.0% increase.