Inflation in South Africa
South Africa - Inflation (end of period)
Inflation moderates in March
Consumer prices rose 0.3% in March, slowing from February’s 1.0% increase. According to the Statistical Institute, the moderation reflected lower prices for transport and easing food costs.
Inflation fell to 4.1% from February’s 4.6%, thus moving below the midpoint of the Central Bank’s 3.0%–6.0% target band. Meanwhile, core inflation inched down to 3.7% (February: 3.8%), while annual average inflation logged 4.2%, matching February’s result.
The SARB sees inflation averaging 4.7% in 2020 and 4.6% in 2021. FocusEconomics Consensus Forecast panelists see inflation averaging 4.2% in 2020, which is unchanged from last month’s estimate, and 4.7% in 2021.
South Africa - Inflation (eop) Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %, eop) | 5.3 | 5.3 | 6.7 | 4.7 | 4.5 |
South Africa Inflation (eop) 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: Rand rebounds in May
May 25, 2020
The South African rand (ZAR) recovered some lost ground against the U.S. dollar over the past month, chiefly thanks to recovering investor sentiment as the government gears up to reopen the economy.
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South Africa: SARB further cuts rate to new record low in May
May 21, 2020
On 21 May, the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) slashed its main lending rate by 50 basis points to 3.75%.
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South Africa: PMI falls at the fastest pace in the survey’s history in April
May 6, 2020
The IHS Markit Purchasing Managers’ Index (PMI) fell from 44.5 in March to 35.1 in April, the lowest print in the survey’s history, which started in July 2011.
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South Africa: Government unveils stimulus to contain the impact of Covid-19 amid a dire fiscal outlook
April 27, 2020
On 21 April, President Cyril Ramaphosa announced measures to combat the economic impact of the Covid-19 pandemic totaling ZAR 500 billion (about 10% of GDP), which aim to support businesses, retain employment and shield those most affected by the crisis.
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South Africa: Rand slumps to new all-time low on rising fiscal concerns and surprise Central Bank cut
April 24, 2020
The South African rand (ZAR) sank to a new record low against the U.S. dollar in April amid faltering government action to curtail the rapid deterioration of the public accounts.
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