The annual inflation rate in South Africa rose to 4 percent in December 2019 from 3.6 percent in the previous month, matching market expectations. Cost of food & non-alcoholic beverages increased further (3.9 percent vs 3.5 percent in November); and transport prices rebounded (3.3 percent vs -0.3 percent), of which fuels (2.4 percent vs -6.6 percent). On the other hand, prices slowed for housing & utilities (4.6 percent vs 4.8 percent); miscellaneous goods & services (5.4 percent vs 5.7 percent); recreation & culture (1.2 percent vs 1.3 percent); alcoholic beverages & tobacco (5 percent vs 5.1 percent); household contents and services (2.8 percent vs 2.9 percent); and restaurants & hotels (2.9 percent vs 3.2 percent). On a monthly basis, consumer prices went up 0.3 percent, after a 0.1 percent gain in November and in line with forecasts. Considering 2019 as a whole, the inflation rate was at 4.1 percent.

Inflation Rate in South Africa averaged 8.95 percent from 1968 until 2019, 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. source: Statistics South Africa

Inflation Rate in South Africa is expected to be 4.80 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 4.70 in 12 months time. In the long-term, the South Africa Inflation Rate is projected to trend around 4.50 percent in 2020, according to our econometric models.


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South Africa Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.00 3.60 20.70 0.20 1968 - 2019 percent Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-23 08:00 AM Sep 4.1% 4.3% 4.2% 4.3%
2019-11-20 08:00 AM Oct 3.7% 4.1% 3.9% 4.0%
2019-12-11 08:00 AM Nov 3.6% 3.7% 3.6% 3.6%
2020-01-22 08:00 AM Dec 4% 3.6% 4% 3.8%
2020-02-19 08:00 AM Jan 4% 3.4%


News Stream
2019-12-11
South Africa Inflation Rate Falls to Near 9-Year Low
The annual inflation rate in South Africa decreased to 3.6 percent in November 2019 from 3.7 percent in the previous month, matching market expectations. It was the lowest inflation rate since December 2010, mainly due to a slowdown in cost of food & non-alcoholic beverages and a fall in transport prices.

2019-11-20
South Africa Inflation Rate Falls to Over 8-1/2-Year Low
The annual inflation rate in South Africa fell to 3.7 percent in October 2019 from 4.1 percent in the previous month and below market expectations of 3.9 percent. It was the lowest inflation rate since February 2011, amid a slowdown in cost of transport due to petrol prices and food & non-alcoholic beverages. On a monthly basis, consumer prices were unchanged, after increasing 0.3 percent in September and below consensus of a 0.2 percent gain.

2019-10-23
South Africa September Inflation Rate Eases to 4.1%
The annual inflation rate in South Africa edged down to 4.1 percent in September 2019 from 4.3 percent in August, slightly below market expectations of 4.2 percent and the 4.5 percent mid-point of the Reserve Bank's target range of 3-6 percent. Prices slowed mostly for housing & utilities and transport.

2019-09-18
South Africa Inflation Rate Quickens to 4.3% in August
The annual inflation rate in South Africa increased to 4.3 percent in August 2019 from 4.0 percent in July, above market expectations of 4.2 percent but below the mid-point of the Reserve Bank's target range of 3-6%. Prices of housing & utilities and food were the key inflationary drivers.

2019-08-21
South Africa Inflation Rate Hits 6-Month Low of 4%
The annual inflation rate in South Africa fell to 4.0 percent in July 2019 from 4.5 percent in June, well below market expectations of 4.4 percent and the mid-point of the Reserve Bank's target range of 3-6%. This is the lowest inflation rate since January, amid a decrease in fuels cost.

2019-07-24
South Africa June Inflation Rate Steady at 4.5%
The annual inflation rate in South Africa was at 4.5 percent in July 2019, unchanged from the previous month and slightly above market expectations of 4.4 percent. Prices of food & non-alcoholic beverages and housing & utilities rose further while cost of transport eased.


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.

South Africa Prices Last Previous Highest Lowest Unit
Inflation Rate 4.00 3.60 20.70 0.20 percent [+]
Inflation Rate Mom 0.30 0.10 6.70 -0.70 percent [+]
Consumer Price Index CPI 113.80 113.50 113.80 1.20 points [+]
Core Consumer Prices 112.90 112.70 112.90 63.30 points [+]
Core Inflation Rate 3.80 3.90 8.30 2.90 percent [+]
Producer Prices 114.30 114.60 219.40 4.10 points [+]
Producer Prices Change 2.30 3.00 8.80 2.30 percent [+]
Export Prices 170.00 166.50 170.00 0.60 points [+]
Import Prices 155.60 155.80 156.60 1.20 points [+]
Food Inflation 3.90 3.50 15.60 0.60 percent [+]
Inflation Expectations 4.84 5.00 8.72 3.90 Percent [+]
CPI Housing Utilities 115.10 114.70 115.10 56.80 points [+]
CPI Transportation 116.50 115.70 116.90 81.70 points [+]