The annual inflation rate in South Africa rose to 2.2 percent in June 2020 from an over 15-year low of 2.1 percent in the previous month and matching market expectations. Prices increased further for alcoholic beverages & tobacco (1.4% vs 1.3% in May); while cost of transport fell less (-5.9% vs -8.4%), of which fuels (-20.9% vs -25.9%). On the other hand, prices eased for food & non-alcoholic beverages (4.2% vs 4.4%); housing & utilities (4% vs 4.5%); miscellaneous goods & services (6.1% vs 6.2%); health (3.8% vs 3.9%); and household contents & services (1.7% vs 2%). Also, inflation was steady for clothing & footwear (at 0.6%) and education (at 6.4%). On a monthly basis, consumer prices went up 0.5 percent, rebounding from a 0.6 percent decline in the prior month and compared with market consensus of a 0.45 percent increase.

Inflation Rate in South Africa averaged 8.89 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 August of 2020. source: Statistics South Africa

Inflation Rate in South Africa is expected to be 2.60 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 5.00 in 12 months time. In the long-term, the South Africa Inflation Rate is projected to trend around 4.30 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
2.20 2.10 20.70 0.20 1968 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-04-22 08:00 AM Mar 4.1% 4.6% 4.3% 4.3%
2020-06-24 08:00 AM Apr 3% 4.1% 3.1% 3.3%
2020-07-15 08:00 AM May 2.1% 3% 2.2% 2%
2020-07-29 08:00 AM Jun 2.2% 2.1% 2.2% 1.7%
2020-08-19 08:00 AM Jul 2.2% 2%
2020-09-23 08:00 AM Aug
2020-10-21 08:00 AM Sep 2.6%
2020-11-18 08:00 AM Oct


News Stream
South Africa Inflation Rate Rises to 2.2% in June
The annual inflation rate in South Africa rose to 2.2 percent in June 2020 from an over 15-year low of 2.1 percent in the previous month and matching market expectations. Prices increased further for alcoholic beverages & tobacco (1.4% vs 1.3% in May); while cost of transport fell less (-5.9% vs -8.4%), of which fuels (-20.9% vs -25.9%). On the other hand, prices eased for food & non-alcoholic beverages (4.2% vs 4.4%); housing & utilities (4% vs 4.5%); miscellaneous goods & services (6.1% vs 6.2%); health (3.8% vs 3.9%); and household contents & services (1.7% vs 2%). Also, inflation was steady for clothing & footwear (at 0.6%) and education (at 6.4%). On a monthly basis, consumer prices went up 0.5 percent, rebounding from a 0.6 percent decline in the prior month and compared with market consensus of a 0.45 percent increase.
2020-07-29
South Africa May Inflation Rate Lowest since 2004
The annual inflation rate eased to 2.1% in May of 2020 from 3% in April and compared with market consensus of 2.2%, thus falling below the lower end of the Reserve Bank's target band of 3-6%. It was the lowest rate since September of 2004, pushed down by transport prices (-8.4% vs -3.5% in April), of which fuels (-25.9% vs -12.8%). In addition, costs advanced at a slower pace for housing & utilities (4.5% vs 4.6%); miscellaneous goods & services (6.2% vs 6.4%); alcoholic beverages & tobacco (1.3% vs 2.3%); health (3.9% vs 4.8%); furnishings (2% vs 2.4%) and clothing & footwear (0.6% vs 1.4%). Meantime, inflation remained steady for food & non-alcoholic beverages (at 4.4%) and education (at 6.4%). On a monthly basis, consumer prices were down 0.6%, after decreasing 0.5% in the prior month and compared with market expectations of a 0.5% drop.
2020-07-15
South Africa Inflation Rate at Near 15-Year Low of 3%
The annual inflation rate in South Africa fell to 3% in April of 2020 from 4.1% in March and slightly below market expectations of 3.1%, thus remaining comfortably within the Reserve Bank's target band of 3-6%. It was the lowest rate since June of 2005, amid a decrease in transport prices (-3.5% vs 3.4% in March), namely fuels (-12.8% vs 5.5%), prompted by the Covid-19 crisis. Also, there was a slowdown in costs of housing & utilities (4.6% vs 4.8%); alcoholic beverages & tobacco (2.3% vs 3.7%); clothing & footwear (1.4% vs 2.3%); recreation & culture (0.4% vs 0.9%) and restaurants & hotels (1% vs 1.4%). Meantime, inflation remained steady for miscellaneous goods services (at 6.4%) and education (at 6.4%), but it quickened for food & non-alcoholic beverages (4.6% vs 4.4%) and health (4.8% vs 4.6%). On a monthly basis, consumer prices went down 0.5%, after rising 0.3% in March, and compared with market consensus of a 0.4% drop.
2020-06-24
South Africa March Inflation Rate at 3-Month Low of 4.1%
The annual inflation rate in South Africa fell to 4.1 percent in March of 2020 from 4.6 percent in February and below market expectations of 4.3 percent. It was the lowest inflation rate since last December, as prices slowed mostly for transport (3.4 percent vs 6.2 percent in February), namely fuels (5.5 percent vs 12.7 percent), on the back of falling oil prices amid the Covid-19 pandemic. Meanwhile, inflation edged higher food & non-alcoholic beverages (4.4 percent vs 4.2 percent); housing & utilities (4.8 percent vs 4.7 percent) and miscellaneous goods & services (6.4 percent vs 6.3 percent). On a monthly basis, consumer prices went up 0.3 percent, easing from a 1 percent rise in the prior month and compared with market consensus of a 0.5 percent increase.
2020-04-22

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.