South Africa's annual inflation rate eased to 7.6% in August of 2022, from an over 13-year high of 7.8% in July, but above market expectations of 7.5% and the upper limit of the South African Reserve Bank’s target range of 3%-6%. Prices slowed mostly for transport (21.2% vs 25% in July), of which fuels (43.2% vs 56.2%) and restaurants & hotels (5.8% vs 6.5%). Meanwhile, prices continued to climb for food & non-alcoholic beverages (11.3% vs 9.7%), chiefly driven by oil & fats (37.6%) and bread & cereals (17.8%). The annual core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, fell to 4.4% in August of 2022, from a near five-year high of 4.6% in the previous month. On a monthly basis, consumer prices were up by 0.2%, the least in seven months, slightly above market forecasts of a 0.1% 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 October of 2022.

Inflation Rate in South Africa is expected to be 7.40 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 5.30 percent in 2023 and 4.60 percent in 2024, according to our econometric models.

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South Africa Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-24 08:00 AM Jul 7.8% 7.4% 7.7% 7.7%
2022-09-21 08:00 AM Aug 7.6% 7.8% 7.5% 7.6%
2022-10-19 08:00 AM Sep 7.6% 7.3%


Related Last Previous Unit Reference
Inflation Rate 7.60 7.80 percent Aug 2022
Inflation Rate MoM 0.20 1.50 percent Aug 2022
Consumer Price Index CPI 106.00 105.80 points Aug 2022
Core Inflation Rate 4.40 4.60 percent Aug 2022
Core Consumer Prices 103.60 103.40 points Aug 2022
Producer Prices 123.80 124.40 points Aug 2022
Producer Prices Change 16.60 18.00 percent Aug 2022
Food Inflation 11.30 9.70 percent Aug 2022
CPI Transportation 114.50 115.60 points Aug 2022
CPI Housing Utilities 103.20 103.10 points Aug 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
7.60 7.80 20.70 0.20 1968 - 2022 percent Monthly

News Stream
South Africa Inflation Rate Softens to 7.6% in August
South Africa's annual inflation rate eased to 7.6% in August of 2022, from an over 13-year high of 7.8% in July, but above market expectations of 7.5% and the upper limit of the South African Reserve Bank’s target range of 3%-6%. Prices slowed mostly for transport (21.2% vs 25% in July), of which fuels (43.2% vs 56.2%) and restaurants & hotels (5.8% vs 6.5%). Meanwhile, prices continued to climb for food & non-alcoholic beverages (11.3% vs 9.7%), chiefly driven by oil & fats (37.6%) and bread & cereals (17.8%). The annual core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, fell to 4.4% in August of 2022, from a near five-year high of 4.6% in the previous month. On a monthly basis, consumer prices were up by 0.2%, the least in seven months, slightly above market forecasts of a 0.1% increase.
2022-09-21
South Africa July Inflation Rate Above Forecasts
South Africa's annual inflation rate accelerated to an over 13-year high of 7.8% in July of 2022, from 7.4% in June, above market expectations of 7.7% and the upper limit of the South African Reserve Bank’s target range of 3%-6%. Prices of transport (25% vs 20% in June), mostly fuels (56.2% vs 45.3%); food and non-alcoholic beverages (9.7% vs 8.6%), notably oils & fats (36.2% vs 32.5%) and bread & cereals (13.7% vs 11.2%); and housing and utilities (4% vs 5.1%), namely electricity (8.1% vs 14.5%) continued to be the main drivers of inflation. The annual core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, rose to 4.6% in July, the highest since October of 2017, from 4.4% in the prior month. On a monthly basis, consumer prices inched up by 1.5%, after increasing 1.1% in June and above market forecasts of a 1.4% rise.
2022-08-24
South Africa Inflation Rate at Over 13-Year High
The annual inflation rate in South Africa quickened to 7.4% in June of 2022, from 6.5% in May, above market expectations of 7.2% and breaking through the upper limit of the South African Reserve Bank’s target range of 3%-6%. It was the highest reading since May of 2009 as prices continued to accelerate mostly for transport (20% vs 15.7% in May), on account of fuels; and food & non-alcoholic beverages (8.6% vs 7.6%), particularly oils and fats (32.5%). Costs were also higher for housing & utilities (5.1% vs 4.9%), namely electricity and other fuels (14.5%); and miscellaneous goods & services (4% vs 3.9%). The annual core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, rose to 4.4% in June, the highest since March of 2019, from 4.1% in the prior month. On a monthly basis, consumer prices were up 1.1%, after increasing 0.7% in May and above market forecasts of a 0.8% rise.
2022-07-20