Inflation in South Africa
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
|Inflation Rate (CPI, annual variation in %, eop)||5.3||6.7||4.7||4.5||4.0|
5 years of economic forecasts for more than 30 economic indicators.
South Africa Inflation (eop) Chart
Source: Statistics South Africa.
South Africa Facts
|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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November 10, 2022
Manufacturing production increased 4.9% month on month in seasonally-adjusted terms in September (August: +2.2% mom).
November 3, 2022
The S&P Global Purchasing Managers’ Index (PMI) rose to 49.5 in October, up from the prior month’s 49.2.
October 19, 2022
Inflation dropped to 7.5% in September, which followed August’s 7.6%.
October 11, 2022
Manufacturing output expanded 2.1% month on month in seasonally adjusted terms in August (July: -0.1% mom).
October 5, 2022
The S&P Global Purchasing Managers’ Index (PMI) fell to 49.2 in September, down from August's 51.7.