The annual inflation rate in South Africa climbed to 5.2% in May of 2021 from 4.4% in April, in line with market expectations and above the 4.5% midpoint of the South African Reserve Bank’s monetary policy target range of 3-6%. It was the highest inflation rate since November of 2018, due largely to last year's low base. Main upward pressure came from prices of transport (15.3% vs 10.6% in May), on account of fuels (37.4% vs 21.4%); food & non-alcoholic beverages (6.7% vs 6.3%); housing & utilities (2.3%, the same pace as in April) and miscellaneous goods & services (4.1% vs 4%). On a monthly basis, consumer prices went up 0.1%, easing from a 0.7% increase in May and matching market estimates. source: Statistics South Africa
Inflation Rate in South Africa averaged 8.80 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 July of 2021.
Inflation Rate in South Africa is expected to be 4.70 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.