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
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: Inflation continues its downward trend in December
January 18, 2023
Inflation fell to 7.2% in December, easing slightly from November’s 7.4%.
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South Africa: Manufacturing activity rebounds in November
January 10, 2023
Manufacturing output increased 2.0% in month-on-month seasonally adjusted terms in November, which contrasted October's 6.2% decrease.
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South Africa: Private-sector conditions improve marginally in December
January 5, 2023
The S&P Global Purchasing Managers’ Index (PMI) moderated to 50.2 in December, down from November’s 50.6.
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South Africa: Inflation drops to lowest level since June in November
December 14, 2022
Inflation dropped to 7.4% in November from October’s 7.6%.
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South Africa: Manufacturing activity records largest drop in over one year in October
December 8, 2022
Manufacturing output collapsed 6.3% in month-on-month seasonally adjusted terms in October, which contrasted September's 5.0% increase.