The inflation rate in South Africa rose to a seven-month high of 3.3 percent in October of 2020 from 3 percent in the previous month and above market expectations of 3.1 percent. Still, the inflation remains well below 4.6 percent in February, before the coronavirus crisis. Prices advanced further for food and non-alcoholic beverages (5.4 percent vs 3.9 percent in September); household contents and services (1.9 percent vs 1.5 percent); health (2.9 percent vs 3.9 percent); and recreation and culture (1.8 percent vs 1.2 percent). On the other hand, cost slowed for housing and utilities (1.4 percent vs 2.8 percent); and miscellaneous goods and services (0.1 percent vs 6.5 percent). In addition, transport prices dropped 0.5 percent, after rising 0.3 percent in September. On a monthly basis, consumer prices went up 0.3 percent, following a 0.2 percent gain in the prior month and above forecasts of a 0.1 percent rise. source: Statistics South Africa

Inflation Rate in South Africa averaged 8.86 percent from 1968 until 2020, reaching an all time high of 20.70 percent in January of 1986 and a record low of 0.20 percent in January of 2004. This page provides - South Africa Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.

Inflation Rate in South Africa is expected to be 2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in South Africa to stand at 3.80 in 12 months time. In the long-term, the South Africa Inflation Rate is projected to trend around 4.20 percent in 2021 and 4.40 percent in 2022, according to our econometric models.

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South Africa Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.30 3.00 20.70 0.20 1968 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-08-26 08:00 AM Jul 3.2% 2.2% 3.1% 3%
2020-09-30 08:00 AM Aug 3.1% 3.2% 3.1% 3.2%
2020-10-28 08:00 AM Sep 3% 3.1% 3.1% 3.2%
2020-11-25 08:00 AM Oct 3.3% 3% 3.1% 3%
2020-12-09 08:00 AM Nov 3.3%
2021-01-20 08:00 AM Dec 2.9%
2021-02-17 08:00 AM Jan
2021-03-24 08:00 AM Feb


News Stream
South Africa Inflation Rate Rises More than Expected
The inflation rate in South Africa rose to a seven-month high of 3.3 percent in October of 2020 from 3 percent in the previous month and above market expectations of 3.1 percent. Still, the inflation remains well below 4.6 percent in February, before the coronavirus crisis. Prices advanced further for food and non-alcoholic beverages (5.4 percent vs 3.9 percent in September); household contents and services (1.9 percent vs 1.5 percent); health (2.9 percent vs 3.9 percent); and recreation and culture (1.8 percent vs 1.2 percent). On the other hand, cost slowed for housing and utilities (1.4 percent vs 2.8 percent); and miscellaneous goods and services (0.1 percent vs 6.5 percent). In addition, transport prices dropped 0.5 percent, after rising 0.3 percent in September. On a monthly basis, consumer prices went up 0.3 percent, following a 0.2 percent gain in the prior month and above forecasts of a 0.1 percent rise.
2020-11-25
South Africa Inflation Rate Falls to 3%
The inflation rate in South Africa slowed to 3 percent in September of 2020 from 3.1 percent in August and market expectations of 3.1 percent. The inflation remains well below 4.6 percent in February, before the coronavirus crisis. Main upward pressure came from cost of food and non-alcoholic beverages (3.9 percent); housing and utilities (2.8 percent); and miscellaneous goods and services (6.5 percent). The lowest contribution came from cost of household contents and services (1.5 percent); health (3.9 percent); and recreation and culture (1.2 percent). Transport prices edged up a meagre 0.3 percent and housing and utilities increased 2.8 percent. On a monthly basis, consumer prices edged up 0.2 percent, the same as in August and below forecasts of 0.3 percent.
2020-10-28
South Africa Inflation Rate Drops to 3.1% in August
The annual inflation rate in South Africa edged down to 3.1% in August of 2020 from 3.2% in July and in line with market expectations, moving closer to the lower band of the South African Reserve Bank's target range of 3-6%. Prices slowed mostly for food & non-alcoholic beverages (3.9% vs 4.3% in July); housing & utilities (3.1% vs 3.2%); restaurants & hotels (0.6% vs 1.1%) and miscellaneous goods & services (6.6% vs 6.7%). In contrast, inflation edged higher for health (4.1% vs 3.9%) and alcoholic beverages & tobacco (3.2% vs 2.4%). On a monthly basis, consumer prices increased 0.2%, following a 1.3% rise in the previous month and matching market expectations.
2020-09-30
South Africa July Inflation Rate Hits 4-Month High
The annual inflation rate in South Africa quickened to 3.2% in July of 2020 from 2.2% in June and above market expectations of 3.1%, moving back into the South African Reserve Bank's target range of 3-6%. It was the highest rate since March, as lockdown restrictions continued to ease. Main upward pressure came from prices of miscellaneous goods & services (6.7% vs 6.1% in June), namely funeral expenses (8.7%); food & non-alcoholic beverages (4.3% vs 4.2%); health (3.9% vs 3.8%) and alcoholic beverages & tobacco (2.4% vs 1.4%). In addition, cost remained flat for transport (vs -5.9%), as higher prices associated to public transport (1.5%) and the purchase of vehicles (3.9%) offset a decrease in those of fuel (-6.2%). Meanwhile, inflation slowed for housing & utilities (3.2% vs 4%). On a monthly basis, consumer prices inched up 1.3%, the most since February of 2016, after increasing 0.5% in June and beating market estimates of a 1.2% rise.
2020-08-26

South Africa Inflation Rate
In South Africa, the most important categories in the consumer price index are Housing and Utilities (24.5 percent of total weight), Transport (16.4 percent) and Food and Non-Alcoholic Beverages (15.4 percent). Others include: Miscellaneous Goods and Services such as personal care, Insurance and Finance (14.7 percent); Alcoholic Beverages and Tobacco (5.4 percent); Household Contents, Equipment and Maintenance (4.8 percent); Recreation and Culture (4.1 percent); Clothing and Footwear (4.1 percent). Restaurants and Hotels, Education, Communication and Health account for the remaining 10 percent. The CPI basket was revised in January of 2013.