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.

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South Africa Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-11-23 08:00 AM Oct 7.6% 7.5% 7.4% 7.3%
2022-12-14 08:00 AM Nov 7.4% 7.6% 7.5% 7.7%
2023-01-18 08:00 AM Dec 7.4% 7.5%


Related Last Previous Unit Reference
Inflation Rate 7.40 7.60 percent Nov 2022
Inflation Rate MoM 0.30 0.40 percent Nov 2022
Consumer Price Index CPI 106.80 106.50 points Nov 2022
Core Inflation Rate 5.00 5.00 percent Nov 2022
Core Consumer Prices 104.70 104.60 points Nov 2022
Producer Prices 125.80 125.20 points Nov 2022
Producer Prices Change 15.00 16.00 percent Nov 2022
Food Inflation 12.50 12.00 percent Nov 2022
CPI Transportation 113.10 111.70 points Nov 2022
CPI Housing Utilities 103.80 103.80 points Nov 2022

South Africa Inflation Rate
In South Africa, the most important categories in the Consumer Price Index are: Housing & Utilities (23% of the total weight), Food & Non-alcoholic Beverages (19%), and Transport (15%). Others include: Miscellaneous Goods & Services (15%), Alcoholic Beverages & Tobacco (6%), Recreation & Entertainment (5%), Household Contents, Equipment & Maintenance (4%), Clothing & Footwear (4%), Restaurants & Hotels (3%), Education (2%), and Communications (2%).
Actual Previous Highest Lowest Dates Unit Frequency
7.40 7.60 20.70 0.20 1968 - 2022 percent Monthly

News Stream
South Africa November Inflation Rate Slows to 5-Month Low
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.
2022-12-14
South Africa Inflation Rate Surprises on the Upside
South Africa's annual inflation rate ticked up to 7.6% in October of 2022 from 7.5% in the prior month, above market expectations of 7.4% and the upper limit of the South African Reserve Bank’s target range of 3%-6%. Main upward pressure came from prices of transport (17.1% vs 17.9% in September); food & non-alcoholic beverages (12% vs 11.9%); restaurants & hotels (7.8% vs 7.9%) and miscellaneous goods & services (4.8% vs 4%). The annual core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, picked up to an over 5-1/2-year high of 5% in October, from 4.7% in the prior month. On a monthly basis, consumer prices inched up by 0.4%, following a 0.1% rise in the prior month and above market forecasts of a 0.2% increase.
2022-11-23
South Africa Inflation Rate Cools for 2nd Month
South Africa's annual inflation rate eased for the second month to 7.5% in September of 2022, from 7.6% in August, matching market expectations but still above the upper limit of the South African Reserve Bank’s target range of 3%-6%. Prices slowed further for transportation (17.9% vs 21.2% in August), on account of fuels (34.1% vs 43.2%). Meanwhile, price pressures intensified for other CPI items including food & non-alcoholic beverages (11.9% vs 11.3%), notably oils & fats (29%) and bread & cereals (19.3%); alcoholic beverages & tobacco (5.9% vs 5.2%); housing & utilities (4.2% vs 4%); restaurants & hotels (7.9% vs 5.8%) and miscellaneous goods & services (4% vs 3.7%). The annual core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, picked up to an over five-year high of 4.7% in September, from 4.4% in the prior month. On a monthly basis, consumer prices edged up by 0.1%, following a 0.2% increase in the prior month, in line with market estimates.
2022-10-19