South Africa's annual inflation rate eased to 7.4% in November of 2022 from 7.6% in the prior month, below market expectations of 7.5% but still above the upper limit of the South African Reserve Bank’s target range of 3%-6%. It was the lowest reading since June, mainly due to a slowdown in prices of transportation (15.3% vs 17.1% in October), of which fuels (25.3% vs 30.1%). Meanwhile, prices edged higher for other CPI items, such as food & non-alcoholic beverages (12.5% vs 12%); restaurants & hotels (7.9% vs 7.8%); alcoholic beverages & tobacco (6.5% vs 6.2%) and household contents and services (5.6% vs 5.5%). The annual core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, stood at an over 5-1/2-year high of 5% in November, unchanged from the prior month. On a monthly basis, consumer prices were up by 0.3%, following a 0.4% rise in the prior month and slightly above market forecasts of a 0.2% increase. source: Statistics South Africa
Inflation Rate in South Africa averaged 8.72 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 January of 2023.
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.