South Africa's annual inflation rate ticked up to 7.6% in October of 2022 from 7.5% in the prior month, above market expectations of 7.4% and the upper limit of the South African Reserve Bank’s target range of 3%-6%. Main upward pressure came from prices of transport (17.1% vs 17.9% in September); food & non-alcoholic beverages (12% vs 11.9%); restaurants & hotels (7.8% vs 7.9%) and miscellaneous goods & services (4.8% vs 4%). The annual core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, picked up to an over 5-1/2-year high of 5% in October, from 4.7% in the prior month. On a monthly basis, consumer prices inched up by 0.4%, following a 0.1% rise in the prior month and above market forecasts of a 0.2% increase. source: Statistics South Africa
Inflation Rate in South Africa averaged 8.73 percent from 1968 until 2022, 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 2022.
Inflation Rate in South Africa is expected to be 7.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Inflation Rate is projected to trend around 5.40 percent in 2023 and 4.50 percent in 2024, according to our econometric models.