The annual inflation rate in South Africa accelerated for a second consecutive month to 5% in September of 2021 from 4.9% in the previous month, in line with expectations, and remaining above the 4.5% midpoint target from the South African Reserve Bank. Main upward pressure came from prices of transport (10.1% vs 9.9% in August), particularly fuels (19.9% vs 19.6%). The price of inland 95-octane petrol reached an all-time high of ZAR 18,34 per litre in September 2021. Other upward pressure came from cost of housing & utilities (4% vs 3.8%), such as electricity & other fuels (14% vs 13.9%) and owner’s equivalent rent (1.3% vs 1%); and food & non-alcoholic beverages (6.6% vs 6.9%), namely oils & fats (22.4% vs 21.3%) and meat (10.3% vs 10.7%). On a monthly basis, consumer prices ticked up 0.2%, slowing from a 0.4% gain in the prior month and almost in line with forecasts of a 0.25% rise. source: Statistics South Africa

Inflation Rate in South Africa averaged 8.77 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 October of 2021.

Inflation Rate in South Africa is expected to be 5.00 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 4.20 percent in 2022 and 4.50 percent in 2023, according to our econometric models.

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South Africa Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-09-22 08:00 AM Aug 4.9% 4.6% 4.8% 4.8%
2021-10-20 08:00 AM Sep 5% 4.9% 5% 5.1%
2021-11-17 08:00 AM Oct 5%


News Stream
South Africa Inflation Rate Rises for 2nd Month
The annual inflation rate in South Africa accelerated for a second consecutive month to 5% in September of 2021 from 4.9% in the previous month, in line with expectations, and remaining above the 4.5% midpoint target from the South African Reserve Bank. Main upward pressure came from prices of transport (10.1% vs 9.9% in August), particularly fuels (19.9% vs 19.6%). The price of inland 95-octane petrol reached an all-time high of ZAR 18,34 per litre in September 2021. Other upward pressure came from cost of housing & utilities (4% vs 3.8%), such as electricity & other fuels (14% vs 13.9%) and owner’s equivalent rent (1.3% vs 1%); and food & non-alcoholic beverages (6.6% vs 6.9%), namely oils & fats (22.4% vs 21.3%) and meat (10.3% vs 10.7%). On a monthly basis, consumer prices ticked up 0.2%, slowing from a 0.4% gain in the prior month and almost in line with forecasts of a 0.25% rise.
2021-10-20
South Africa August Inflation Rate Rises to 4.9%
The annual inflation rate in South Africa quickened to 4.9% in August of 2021 from 4.6% in July, slightly above market expectations of 4.8% and the 4.5% midpoint of the South African Reserve Bank’s monetary policy target range of 3-6%. Main upward pressure came from prices of transport (9.9% vs 8% in July), of which fuels (19.6% vs 15.2%); food & non-alcoholic beverages (6.9% vs 6.7%), namely oils & fats (21.3% vs 22.4%) and meat (10.7% vs 9.4%); miscellaneous goods & services (4.2%, the same as in July) and housing & utilities (3.8%, the same as in July), such as electricity and other fuels (13.9% vs 13.6%). On a monthly basis, consumer prices went up 0.4%, easing from a 1.1% rise in the prior month but slightly above market forecasts of a 0.3% increase.
2021-09-22
South Africa July Inflation Rate Drops to 4.6%
The annual inflation rate in South Africa eased for the second straight month to 4.6% in July of 2021, from 4.9% in June, in line with market expectations and slightly above the 4.5% midpoint of the South African Reserve Bank’s monetary policy target range of 3-6%. Prices slowed mostly for transport (8% vs 12.3% in June), namely fuels (15.2% vs 27.5%) and restaurants & hotels (2.3% vs 2.7%). At the same time, inflation remained steady for food & non-alcoholic beverages (at 6.7%) and furnishings (at 1.3%), while it picked up for housing & utilities (3.8% vs 2.6%), on costlier electricity (13.6% vs 6.2%), following a recent hike in tariffs by power utility Eskom. The annual core inflation rate, which excludes volatile items such as food and non-alcoholic beverages, fuel and energy, dropped to 3% in July, the lowest since April and below forecasts of 3.1%. On a monthly basis, consumer prices inched up 1.1%, the most in a year, following a 0.2% rise in the previous month.
2021-08-18

South Africa Last Unit Reference Previous Highest Lowest
Inflation Rate 5.00 percent Sep/21 4.90 20.70 0.20
Inflation Rate Mom 0.20 percent Sep/21 0.40 6.70 -0.70
Consumer Price Index CPI 122.60 points Sep/21 122.30 122.60 1.20
Core Consumer Prices 119.90 points Sep/21 119.60 119.90 63.30
Core Inflation Rate 3.20 percent Sep/21 3.10 8.30 2.50
Producer Prices 106.20 points Aug/21 105.40 219.40 4.10
Producer Prices Change 7.20 percent Aug/21 7.10 8.70 0.30
Food Inflation 6.60 percent Sep/21 6.90 15.60 0.60
CPI Transportation 127.10 points Sep/21 126.50 127.10 81.70
CPI Housing Utilities 122.60 points Sep/21 122.20 122.60 56.80


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.