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.