Inflation in South Africa
South Africa - Inflation
Inflation notches 18-month high in November
Consumer prices climbed 0.2% from the previous month in November, down from October’s 0.5% increase. A slower rise in fuel costs was behind the reading. To that effect, core consumer prices—which exclude food and energy prices—rose 0.2%, up from 0.1% in October.
Inflation edged up to 5.2% (October: 5.1%), landing both within the South African Reserve Bank (SARB)’s target band of 3.0%–6.0% and in line with analysts’ expectations. Core inflation rose to 4.4% from 4.2% in October, while annual average inflation was stable from October at 4.6%.
South Africa Inflation Forecast
The SARB sees inflation averaging 5.5% in 2019 and 5.4% in 2020. FocusEconomics Consensus Forecast panelists see inflation averaging 5.3% in 2019, which is down 0.1 percentage points from last month’s forecast. The panel also projects average inflation at 5.3% in 2020.
South Africa - Inflation Data
|Inflation Rate (CPI, annual variation in %)||5.8||6.1||4.6||6.3||5.3|
5 years of economic forecasts for more than 30 economic indicators.
South Africa Inflation Chart
Source: Statistics South Africa.
South Africa Facts
|Bond Yield||8.81||0.29 %||Jan 14|
|Exchange Rate||13.78||-0.21 %||Jan 14|
|Stock Market||0.7||-0.44 %||Jan 11|
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December 12, 2018
Consumer prices climbed 0.2% from the previous month in November, down from October’s 0.5% increase.
December 11, 2018
A preliminary estimate showed the manufacturing sector rebounding in October.
December 5, 2018
In November, the Standard Bank Purchasing Managers’ Index (PMI) climbed 1.3 points to 48.2 points, closing in on the 50-point threshold that distinguishes deterioration from improvement in the South African private sector. November’s reading revealed a more modest deterioration in business conditions, reflected in smaller declines in output and new orders amid tepid demand.
December 4, 2018
South Africa’s economy bounced back in the third quarter from a short-lived technical recession in the first half of the year, expanding in seasonally-adjusted and annualized (saar) terms.
November 22, 2018
At its meeting ending on 22 November, the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) opted to close the year by raising the repurchase rate by 25 basis points to 6.75%.