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.