Inflation in South Africa
South Africa - Inflation
Inflation holds stable in April
Consumer prices increased 0.59% in April over the previous month, below the 0.99% rise recorded in March. April's result marked the weakest reading since January. Looking at the details of the release, the result was largely driven by easing price pressures for transportation. Moreover, prices for alcoholic beverages and tobacco increased at a more subdued pace.
Inflation came in at 5.9% in April, matching March’s result. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 5.4% in April (March: 5.2%). Finally, core inflation rose to 3.9% in April, from the previous month's 3.8%.
FocusEconomics Consensus Forecast panelists see inflation averaging 5.7% in 2022, which is up 0.4 percentage points from last month’s estimate, and 4.7% in 2023.
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: Manufacturing production records largest decrease in six months in April
June 9, 2022
Manufacturing output collapsed 5.4% month-on-month in seasonally-adjusted terms in April (March: +0.3% mom).
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South Africa: GDP growth records quickest upturn since Q4 2020 in Q1
June 7, 2022
In the first quarter of the year, the South African economy returned to its pre-pandemic level.
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South Africa: Conditions improve at slightly stronger pace in May
June 3, 2022
The S&P Global Purchasing Managers’ Index (PMI) rose to 50.7 in May, up from April’s four-month low of 50.3.
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South Africa: SARB meets expectations and delivers fourth consecutive rate hike in May
May 19, 2022
At its 19 May meeting, the Monetary Policy Committee of the South African Reserve Bank (SARB) voted to increase the repurchase rate by a further 50 basis points, bringing it to 4.75%.
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South Africa: Inflation holds stable in April
May 18, 2022
Consumer prices increased 0.59% in April over the previous month, below the 0.99% rise recorded in March.
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