The annual inflation rate in South Africa rose to 3.2% in March of 2021 from 2.9% in February, in line with market expectations and moving above lower band of the South African Reserve Bank's target range of 3-6%. Main upward pressure came from prices of food & non-alcoholic beverages (5.7% vs 5.2% in February), in particular oils & fats (13.4% vs 10.6%) and transport (3.8% vs 1.2%), of which fuels (2.3% vs -3.3%). Costs also advanced faster for health (3.1% vs 2.8%), on the back of the Covid-19 pandemic; miscellaneous goods & services (4% vs 3.9%) and recreation & culture (1.8% vs 1.4%). On a monthly basis, consumer prices went up 0.7%, the same pace as in the previous month and matching market expectations. source: Statistics South Africa
Inflation Rate in South Africa averaged 8.81 percent from 1968 until 2021, 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 April of 2021.
Inflation Rate in South Africa is expected to be 4.90 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 4.60 in 12 months time. In the long-term, the South Africa Inflation Rate is projected to trend around 4.40 percent in 2022 and 4.50 percent in 2023, according to our econometric models.