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.

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South Africa Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.20 4.40 20.70 0.20 1968 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-03-24 08:00 AM Feb 2.9% 3.2% 3.1% 3.1%
2021-04-21 08:00 AM Mar 3.2% 2.9% 3.2% 3.2%
2021-05-19 08:00 AM Apr 4.4% 3.2% 4.3% 4.2%
2021-06-23 08:00 AM May 5.2% 4.4% 5.2% 5%
2021-07-21 08:00 AM Jun 5.2% 4.8% 4.7%
2021-08-18 08:00 AM Jul
2021-09-22 08:00 AM Aug
2021-10-20 08:00 AM Sep 4.3%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
South Africa May Inflation Rate at 2-1/2-Year High
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.
2021-06-23
South Africa April Inflation Rate at Over 1-Year High
The annual inflation rate in South Africa rose to 4.4% in April of 2021 from 3.2% in March, slightly above market expectations of 4.3% and moving closer to the 4.5% midpoint of the South African Reserve Bank's target range of 3-6%. It was the highest inflation rate since February of 2020, boosted by prices of transport (10.6% vs 3.8%), following record increases in fuels (21.4% vs 2.3% in March) due to rising global oil prices; food & non-alcoholic beverages (6.3% vs 5.7%), namely oils & fats (16.7% vs 13.4%); housing & utilities (2.3% vs 2.2%), mostly electricity and other fuels (6.4% vs 6%) and miscellaneous goods & services (4%, the same pace as in March). On a monthly basis, consumer prices were up 0.7%, the same pace as in the prior month and slightly above market estimates of 0.6%.
2021-05-19
South Africa March Inflation Rate Up to 3.2%
The annual inflation rate in South Africa rose to 3.2% in March of 2021 from 2.9% in February, in line with market expectations and moving above lower band of the South African Reserve Bank's target range of 3-6%. Main upward pressure came from prices of food & non-alcoholic beverages (5.7% vs 5.2% in February), in particular oils & fats (13.4% vs 10.6%) and transport (3.8% vs 1.2%), of which fuels (2.3% vs -3.3%). Costs also advanced faster for health (3.1% vs 2.8%), on the back of the Covid-19 pandemic; miscellaneous goods & services (4% vs 3.9%) and recreation & culture (1.8% vs 1.4%). On a monthly basis, consumer prices went up 0.7%, the same pace as in the previous month and matching market expectations.
2021-04-21
South Africa February Inflation Rate at 8-Month Low
The annual inflation rate in South Africa eased to 2.9% in February of 2021 from 3.2% in January, below market expectations of 3.1% and the South African Reserve Bank's target range of 3-6%. It was the lowest inflation rate since last June, amid a slowdown in prices of food & non-alcoholic beverages (5.2% vs 5.4% in January); miscellaneous goods & services (3.9% vs 6.5%) and health (2.8% vs 4.5%). In addition, costs decreased for restaurants & hotels (-0.5% vs 0.3%) and communication (-0.5%, the same pace as in January). On a monthly basis, consumer prices were up 0.7%, after increasing 0.3% in the prior month, but below market expectations of 0.9%.
2021-03-24

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.