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.