Inflation in South Africa

South Africa Inflation (eop) | Economic News & Forecasts

South Africa - Inflation (end of period)

Inflation drops to lowest level since June in September

Inflation dropped to 7.5% in September, which followed August’s 7.6%. September's figure marked the lowest inflation rate since June. Looking at the details of the release, the moderation was chiefly due to transportation price growth easing in September, which more than offset prices for housing and utilities, as well as for food and non-alcoholic beverages, rising at a faster pace.

Still, the trend pointed up slightly, with annual average inflation coming in at 6.4% in September (August: 6.2%). Meanwhile, core inflation rose to 4.7% in September, from August’s 4.4%.

Lastly, consumer prices rose 0.09% in September over the previous month, moderating from August's 0.19% rise. September's result marked the weakest reading since November 2020.

FocusEconomics Consensus Forecast panelists see inflation averaging 5.4% in 2023, which is up 0.2 percentage points from last month’s estimate, and 4.5% in 2024.

South Africa - Inflation (eop) Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %, eop)5.3  6.7  4.7  4.5  4.0  

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South Africa Inflation (eop) Chart


South Africa Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics South Africa.

South Africa Facts

Value Change Date
Bond Yield8.260.29 %Dec 31
Exchange Rate13.98-0.21 %Dec 31
Stock Market0.1-0.44 %Jan 06

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